Stratos Wealth Advisors LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stratos Wealth Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,733 shares of the semiconductor manufacturer's stock after buying an additional 1,289 shares during the period. Stratos Wealth Advisors LLC's holdings in Broadcom were worth $1,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after purchasing an additional 31,225 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in shares of Broadcom by 1.3% during the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock valued at $5,917,000 after buying an additional 322 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Broadcom by 46.2% during the fourth quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock valued at $4,528,000 after buying an additional 6,168 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,716 shares of company stock worth $216,933,761 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of AVGO traded down $1.02 during mid-day trading on Friday, hitting $274.38. 14,264,387 shares of the company were exchanged, compared to its average volume of 28,121,225. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $281.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a 50 day moving average of $246.70 and a 200-day moving average of $218.72. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.96 EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.86%. Broadcom's payout ratio is 88.39%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVGO. Barclays boosted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Truist Financial set a $295.00 price target on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $290.21.

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.