Wambolt & Associates LLC Buys 1,546 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Wambolt & Associates LLC increased its investment in Broadcom Inc. by 14.5%, resulting in holdings valued at approximately $2.06 million after acquiring an additional 1,546 shares in the first quarter.
• Broadcom reported a 20.2% year-over-year revenue increase for its latest quarter, achieving $15 billion in revenue and earnings of $1.58 per share, surpassing analysts' estimates.
• The company recently declared a quarterly dividend of $0.59, contributing to an annualized dividend of $2.36 and a yield of 0.8%, with a payout ratio currently at 88.39%.

Wambolt & Associates LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,212 shares of the semiconductor manufacturer's stock after acquiring an additional 1,546 shares during the period. Wambolt & Associates LLC's holdings in Broadcom were worth $2,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares during the last quarter. PARUS FINANCE UK Ltd raised its position in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Nebula Research & Development LLC raised its position in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Keener Financial Planning LLC raised its position in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Wells Fargo & Company boosted their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Finally, Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of "Buy" and a consensus price target of $294.92.

Broadcom Trading Up 0.4%

NASDAQ:AVGO traded up $1.21 during mid-day trading on Friday, hitting $304.97. The company had a trading volume of 12,439,353 shares, compared to its average volume of 17,052,154. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $310.34. The business's fifty day moving average is $272.87 and its two-hundred day moving average is $226.82. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market cap of $1.43 trillion, a P/E ratio of 114.22, a P/E/G ratio of 2.16 and a beta of 1.15.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given 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 of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, July 14th. The stock was sold at an average price of $274.30, for a total value of $219,440.00. Following the completion of the transaction, the director directly owned 24,582 shares of the company's stock, valued at $6,742,842.60. The trade was a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock valued at $217,224,641. Insiders own 2.00% of the company's stock.

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.