Wealthcare Advisory Partners LLC Acquires 1,938 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealthcare Advisory Partners LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,398 shares of the semiconductor manufacturer's stock after acquiring an additional 1,938 shares during the period. Wealthcare Advisory Partners LLC's holdings in Broadcom were worth $7,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the fourth quarter worth $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Mizuho boosted their price objective on Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group upped their price objective on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday. Redburn Atlantic initiated coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. Citigroup raised their price target on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a research note on Monday. Finally, Bank of America lifted their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $272.71.

Broadcom Stock Up 0.1%

Shares of NASDAQ:AVGO traded up $0.35 during trading on Tuesday, reaching $244.63. 25,457,534 shares of the stock were exchanged, compared to its average volume of 31,006,436. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The stock has a fifty day moving average of $205.17 and a two-hundred day moving average of $207.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.54, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share 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 analyst estimates of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $10.96 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has approved 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 reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. 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.