Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Reduced by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 67,700 shares of the semiconductor manufacturer’s stock after selling 271 shares during the period. Broadcom accounts for about 2.9% of Stokes Capital Advisors LLC’s portfolio, making the stock its 6th largest position. Stokes Capital Advisors LLC’s holdings in Broadcom were worth $11,335,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. SlateStone Wealth LLC lifted its position in shares of Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 48 shares in the last quarter. DT Investment Partners LLC lifted its position in shares of Broadcom by 0.9% during the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock worth $1,251,000 after purchasing an additional 50 shares in the last quarter. Bfsg LLC lifted its position in shares of Broadcom by 12.5% during the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock worth $105,000 after purchasing an additional 50 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC increased its stake in shares of Broadcom by 1.5% during the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock worth $782,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday. Benchmark upped their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday. Rosenblatt Securities upped their target price on shares of Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday. Two research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.25.

Broadcom Trading Down 5.0%

Shares of AVGO stock opened at $246.95 on Friday. The stock has a 50-day simple moving average of $203.73 and a 200 day simple moving average of $206.22. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The stock has a market capitalization of $1.16 trillion, a P/E ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the business earned $10.96 EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its Board of Directors has approved a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The firm 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 0.96%. Broadcom’s payout ratio is 113.46%.

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.