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Whittier Trust Co. of Nevada Inc. Buys 7,888 Shares of Broadcom Inc. (NASDAQ:AVGO)

Broadcom logo with Computer and Technology background

Whittier Trust Co. of Nevada Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,459 shares of the semiconductor manufacturer's stock after purchasing an additional 7,888 shares during the period. Broadcom makes up approximately 1.3% of Whittier Trust Co. of Nevada Inc.'s holdings, making the stock its 15th biggest position. Whittier Trust Co. of Nevada Inc.'s holdings in Broadcom were worth $51,143,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter worth about $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter worth about $30,000. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after acquiring an additional 137 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at $91,117,639.75. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. 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 ninety days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. KeyCorp raised their price objective on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Oppenheimer raised their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. One 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 data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $292.08.

View Our Latest Research Report on Broadcom

Broadcom Price Performance

AVGO traded down $2.78 during midday trading on Friday, hitting $283.67. The company had a trading volume of 10,835,674 shares, compared to its average volume of 27,836,706. 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 company has a market capitalization of $1.33 trillion, a PE ratio of 106.23, a P/E/G ratio of 2.00 and a beta of 1.12. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $288.28. The firm's 50-day simple moving average is $252.91 and its 200-day simple moving average is $219.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the previous year, the company earned $10.96 EPS. Broadcom's revenue was up 20.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has authorized a stock repurchase 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 a sign that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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