Tounjian Advisory Partners LLC Invests $7.29 Million in Broadcom Inc. (NASDAQ:AVGO)

Tounjian Advisory Partners LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 43,566 shares of the semiconductor manufacturer's stock, valued at approximately $7,294,000. Broadcom comprises about 1.3% of Tounjian Advisory Partners LLC's portfolio, making the stock its 14th biggest holding.

A number of other institutional investors also recently made changes to their positions in AVGO. SlateStone Wealth LLC boosted its position in Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after purchasing an additional 47 shares during the last quarter. True Wealth Design LLC boosted its position in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. DT Investment Partners LLC boosted its position in Broadcom by 0.9% during the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after purchasing an additional 50 shares during the last quarter. Bfsg LLC increased its position in Broadcom by 12.5% during the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock worth $105,000 after buying an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC increased its position in Broadcom by 1.5% during the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock worth $782,000 after buying an additional 50 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of AVGO traded up $0.35 during trading hours on Tuesday, reaching $244.63. The stock had a trading volume of 25,457,534 shares, compared to its average volume of 31,006,245. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The stock has a market capitalization of $1.15 trillion, a PE ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company's 50-day moving average is $205.17 and its two-hundred day moving average is $207.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $10.96 EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Truist Financial set a $295.00 price target on Broadcom and gave the stock a "buy" rating in a research report on Friday. Oppenheimer boosted their price target on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $272.71.

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.