World Investment Advisors Acquires 4,461 Shares of Broadcom Inc. (NASDAQ:AVGO)

World Investment Advisors raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,084 shares of the semiconductor manufacturer's stock after acquiring an additional 4,461 shares during the quarter. Broadcom makes up 0.7% of World Investment Advisors' holdings, making the stock its 27th largest holding. World Investment Advisors' holdings in Broadcom were worth $26,468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Broadcom during the 4th quarter worth about $16,893,010,000. GAMMA Investing LLC lifted 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 acquiring an additional 17,181,652 shares during the period. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 15,171,849 shares during the period. GQG Partners LLC lifted 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 acquiring an additional 6,809,245 shares during the period. Finally, Vanguard Group Inc. lifted its position 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 acquiring an additional 6,573,204 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVGO. Benchmark boosted their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Barclays boosted their price objective on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Bank of America upped their price target on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $281.46.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction dated 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 sale, 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 sold a total of 854,716 shares of company stock worth $221,433,761 in the last three months. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $4.97 during midday trading on Friday, reaching $274.87. 10,592,655 shares of the company were exchanged, compared to its average volume of 28,575,138. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a one year low of $128.50 and a one year high of $277.71. The stock has a market cap of $1.29 trillion, a P/E ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. The stock's 50-day moving average price is $238.77 and its 200-day moving average price is $217.22.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

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

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.