TruWealth Advisors LLC Has $26.10 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

TruWealth Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 155,674 shares of the semiconductor manufacturer's stock after selling 1,773 shares during the period. Broadcom comprises approximately 1.6% of TruWealth Advisors LLC's portfolio, making the stock its 20th biggest holding. TruWealth Advisors LLC's holdings in Broadcom were worth $26,103,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC lifted its holdings in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC grew its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $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 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock worth $1,251,000 after acquiring an additional 50 shares during the period. Bfsg LLC grew its position in Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after buying an additional 50 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC increased its stake in shares of Broadcom by 1.5% during the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after acquiring an additional 50 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock traded down $1.15 during midday trading on Thursday, reaching $259.93. 41,745,758 shares of the company's stock were exchanged, compared to its average volume of 30,922,784. 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 stock's 50-day simple moving average is $200.31 and its 200 day simple moving average is $205.00. The firm has a market cap of $1.22 trillion, a price-to-earnings ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.33 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.24). Broadcom had a net margin of 11.43% and a return on equity of 28.00%. On average, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.91%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom declared that its board has approved 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 repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Mizuho increased their target price on shares of Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Citigroup increased their price objective on Broadcom from $210.00 to $276.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Bank of America decreased their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.00.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

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.