Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by TKG Advisors LLC

TKG Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,400 shares of the semiconductor manufacturer's stock after purchasing an additional 1,568 shares during the period. Broadcom comprises approximately 2.3% of TKG Advisors LLC's portfolio, making the stock its 16th biggest holding. TKG Advisors LLC's holdings in Broadcom were worth $4,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at $25,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $26,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 1.8%

Shares of NASDAQ:AVGO traded up $4.97 during trading on Friday, hitting $274.87. The company's stock had a trading volume of 10,592,655 shares, compared to its average volume of 28,575,138. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The stock's 50-day moving average price is $238.77 and its two-hundred day moving average price is $217.17. The company has a market capitalization of $1.29 trillion, a PE ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the prior year, the firm earned $10.96 EPS. The business's quarterly revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Evercore ISI restated an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Mizuho lifted their price target on Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday. UBS Group lifted their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Citigroup lifted their price target on Broadcom from $276.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $281.46.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on 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 transaction, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by company insiders.

About Broadcom

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.