Strategic Family Wealth Counselors L.L.C. Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Strategic Family Wealth Counselors L.L.C. increased its stake in Broadcom Inc. by 69.5% during the first quarter, now holding a total of 2,178 shares valued at approximately $365,000.
• Several institutional investors, including GAMMA Investing LLC and Price T Rowe Associates Inc., significantly boosted their holdings in Broadcom, indicating strong investor confidence.
• Broadcom recently announced a $10 billion share repurchase plan and declared a quarterly dividend of $0.59 per share, suggesting actions to enhance shareholder value.

Strategic Family Wealth Counselors L.L.C. lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 69.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,178 shares of the semiconductor manufacturer's stock after buying an additional 893 shares during the period. Strategic Family Wealth Counselors L.L.C.'s holdings in Broadcom were worth $365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AVGO. GAMMA Investing LLC grew its position in Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. Northern Trust Corp grew its holdings in Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. APG Asset Management N.V. increased its stake in Broadcom by 609.4% during the 4th quarter. APG Asset Management N.V. now owns 4,379,348 shares of the semiconductor manufacturer's stock worth $980,500,000 after buying an additional 3,762,034 shares during the period. Finally, FMR LLC lifted its holdings in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after buying an additional 2,873,809 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the transaction, the chief executive officer owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director owned 24,582 shares in the company, valued at $6,742,842.60. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,224,641. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVGO. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Evercore ISI reiterated an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. The Goldman Sachs Group began coverage on shares of Broadcom in a research report on Thursday, July 10th. They set a "buy" rating and a $315.00 price target for the company. Finally, Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and an average price target of $294.92.

Broadcom Stock Performance

AVGO opened at $288.64 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $266.56 and its 200-day moving average is $224.55. The stock has a market cap of $1.36 trillion, a PE ratio of 108.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $306.95.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the firm earned $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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