Windle Wealth LLC Invests $5.06 Million in Broadcom Inc. (NASDAQ:AVGO)

Windle Wealth LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,208 shares of the semiconductor manufacturer's stock, valued at approximately $5,058,000. Broadcom accounts for 2.6% of Windle Wealth LLC's portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also recently bought and sold shares of AVGO. Vanguard Group Inc. lifted its holdings in Broadcom by 1.4% during 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the last quarter. FMR LLC boosted its position in shares of Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter worth $16,893,010,000. Finally, Northern Trust Corp increased its holdings in Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction 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 sale, the insider owned 789,784 shares in the company, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This represents a 13.46% 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 valued at $217,224,641 in the last quarter. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Bank of America lifted their target price on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report 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 report on Friday, June 6th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Mizuho lifted their price target on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and an average price target of $292.08.

Broadcom Price Performance

NASDAQ:AVGO traded up $4.87 during trading hours on Monday, reaching $288.21. 17,706,689 shares of the company were exchanged, compared to its average volume of 27,778,305. The business has a 50 day moving average of $254.41 and a 200 day moving average of $220.17. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $290.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market capitalization of $1.36 trillion, a P/E ratio of 107.94, a P/E/G ratio of 2.02 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 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 revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.96 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom Company 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.