Vontobel Holding Ltd. Has $135.72 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Vontobel Holding Ltd. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 810,587 shares of the semiconductor manufacturer's stock after buying an additional 66,436 shares during the quarter. Vontobel Holding Ltd.'s holdings in Broadcom were worth $135,717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Broadcom during the fourth quarter worth approximately $16,893,010,000. GAMMA Investing LLC increased its stake in shares of Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. GQG Partners LLC boosted its stake in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 854,716 shares of company stock worth $221,433,761 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock traded up $4.97 during trading on Friday, reaching $274.87. 10,592,655 shares of the company's stock were exchanged, compared to its average volume of 28,641,799. 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 1-year low of $128.50 and a 1-year high of $277.71. The company has a market cap of $1.29 trillion, a P/E ratio of 102.95, a PEG ratio of 1.92 and a beta of 1.12. The firm's 50-day moving average price is $237.12 and its 200 day moving average price is $216.98.

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

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. 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 is 88.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. Evercore ISI reissued 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. Mizuho raised their price target on shares of Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday. Citigroup boosted their price objective on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Finally, Rosenblatt Securities raised their target price on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $281.46.

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.