Wealth Dimensions Group Ltd. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,146 shares of the semiconductor manufacturer's stock after buying an additional 951 shares during the quarter. Wealth Dimensions Group Ltd.'s holdings in Broadcom were worth $1,364,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC raised its position in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares in the last quarter. Diversify Wealth Management LLC raised its position in Broadcom by 5.6% during the first 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 in the last quarter. OMNI 360 Wealth Inc. grew its stake in shares of Broadcom by 51.6% during the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after buying an additional 1,014 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its holdings in Broadcom by 1,512.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock valued at $21,660,000 after purchasing an additional 86,884 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.
Broadcom Trading Up 1.7%
AVGO stock traded up $4.87 during midday trading on Monday, reaching $288.21. The stock had a trading volume of 17,706,689 shares, compared to its average volume of 27,778,305. The business has a fifty day simple moving average of $254.41 and a two-hundred day simple moving average of $220.17. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.36 trillion, a price-to-earnings ratio of 107.94, a PEG ratio of 2.02 and a beta of 1.12. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $290.40.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the business posted $10.96 EPS. The business's revenue was up 20.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom declared that its Board of Directors has initiated a stock buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.82%. Broadcom's dividend payout ratio (DPR) is currently 88.39%.
Insider Transactions at Broadcom
In other news, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director directly owned 24,582 shares of the company's stock, valued at approximately $6,742,842.60. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on AVGO shares. Evercore ISI reiterated an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Citigroup lifted their price objective on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday, July 7th. KeyCorp raised their target price on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $292.08.
Read Our Latest Research Report on Broadcom
Broadcom Profile
(
Free Report)
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.
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