WFA Asset Management Corp Has $35,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

WFA Asset Management Corp lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 90.0% during the first quarter, HoldingsChannel reports. The firm owned 212 shares of the semiconductor manufacturer’s stock after selling 1,908 shares during the quarter. WFA Asset Management Corp’s holdings in Broadcom were worth $35,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares during the last quarter. Nebula Research & Development LLC boosted its stake in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after acquiring an additional 14,399 shares during the period. Kovack Advisors Inc. raised its stake in Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after acquiring an additional 2,570 shares during the period. SOA Wealth Advisors LLC. lifted its holdings in Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after purchasing an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after purchasing an additional 86,884 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares in the company, valued at $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $246.95 on Monday. The firm has a 50 day moving average of $203.73 and a 200-day moving average of $206.81. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.16 trillion, a PE ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate 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 11.43% and a return on equity of 28.00%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $10.96 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom’s dividend payout ratio is currently 88.39%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup reiterated a “buy” rating and issued a $276.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Tuesday, June 3rd. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Wells Fargo & Company upped their target price on Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price target on shares of Broadcom in a report on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $270.25.

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.