11,400 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Union Heritage Capital LLC

Key Points

• Union Heritage Capital LLC has acquired a new position in Broadcom Inc. by purchasing 11,400 shares valued at approximately $1.9 million during the first quarter.
• Broadcom reported earnings of $1.58 per share for the last quarter, exceeding estimates, and revenue of $15 billion, a 20.2% increase year-over-year.
• The company's recent quarterly dividend was $0.59, with an annualized yield of 0.8%, and its dividend payout ratio currently stands at 88.39%.

Union Heritage Capital LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,400 shares of the semiconductor manufacturer's stock, valued at approximately $1,909,000.

A number of other hedge funds have also modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter worth approximately $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the firm's 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 transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of several research reports. UBS Group raised their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Citigroup lifted their price objective on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wells Fargo & Company lifted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Oppenheimer boosted their price target on Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $294.92.

Broadcom Trading Up 0.6%

NASDAQ:AVGO traded up $1.86 on Monday, reaching $306.83. 4,703,188 shares of the stock traded hands, compared to its average volume of 26,388,023. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 114.87, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $310.34. 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 company's 50 day moving average is $272.87 and its 200-day moving average is $226.63.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) 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 company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the business earned $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced 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 dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

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.