Wolf Group Capital Advisors Purchases 13,958 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wolf Group Capital Advisors increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 586.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,338 shares of the semiconductor manufacturer's stock after purchasing an additional 13,958 shares during the period. Wolf Group Capital Advisors' holdings in Broadcom were worth $2,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Norges Bank bought a new stake in Broadcom in the 4th quarter valued at $16,893,010,000. GAMMA Investing LLC increased its holdings in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after acquiring an additional 15,171,849 shares during the last quarter. GQG Partners LLC increased its holdings in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after acquiring an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 0.8%

Broadcom stock traded up $1.89 during trading hours on Thursday, hitting $251.26. The company had a trading volume of 30,405,545 shares, compared to its average volume of 29,855,922. The firm has a market cap of $1.18 trillion, a P/E ratio of 94.10, a P/E/G ratio of 1.79 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a 50-day moving average price of $217.54 and a two-hundred day moving average price of $211.02.

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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 22.64% and a return on equity of 35.49%. The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $10.96 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.94%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom announced that its board has approved a stock repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. KeyCorp boosted their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Wells Fargo & Company boosted their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Finally, William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $276.09.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated 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 approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,134 shares of company stock valued at $163,760,949 in the last three months. Company insiders own 2.00% of the company's stock.

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.