Broadcom Inc. (NASDAQ:AVGO) Shares Sold by West Family Investments Inc.

West Family Investments Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,801 shares of the semiconductor manufacturer's stock after selling 3,626 shares during the quarter. Broadcom makes up approximately 0.6% of West Family Investments Inc.'s holdings, making the stock its 26th largest holding. West Family Investments Inc.'s holdings in Broadcom were worth $1,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Norges Bank purchased a new stake in Broadcom during the 4th quarter worth about $16,893,010,000. GAMMA Investing LLC increased its position in Broadcom by 18,179.3% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position 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 in the last quarter. GQG Partners LLC increased its position in Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares of the company's stock, valued at $105,353,335.68. This represents a 10.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were 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 in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,224,641 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AVGO. Oppenheimer raised their price target on Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a research note on Tuesday. Rosenblatt Securities raised their price target on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Benchmark raised their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $292.08.

Broadcom Stock Down 0.0%

NASDAQ AVGO traded down $0.13 on Wednesday, reaching $280.81. The company had a trading volume of 15,016,636 shares, compared to its average volume of 28,007,422. The firm has a market capitalization of $1.32 trillion, a PE ratio of 105.17, a P/E/G ratio of 2.00 and a beta of 1.12. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $283.36. The firm has a 50-day moving average of $251.34 and a 200-day moving average of $219.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during 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%. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.96 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom Profile

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.