Woodward Diversified Capital LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Woodward Diversified Capital LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,475 shares of the semiconductor manufacturer’s stock after buying an additional 260 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Broadcom were worth $749,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in 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 valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its holdings in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after acquiring an additional 14,399 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock valued at $6,365,000 after acquiring an additional 2,016 shares during the last quarter. OMNI 360 Wealth Inc. increased its holdings in shares of Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer’s stock valued at $499,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after acquiring an additional 86,884 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.0%

Shares of Broadcom stock opened at $280.81 on Thursday. The stock’s fifty day moving average is $251.34 and its 200-day moving average is $219.63. The firm has a market capitalization of $1.32 trillion, a PE ratio of 105.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. 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 12-month low of $128.50 and a 12-month high of $283.59.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. Broadcom’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.96 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. This represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,224,641 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI restated an “outperform” rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Wells Fargo & Company raised their price target on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, June 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Citigroup raised their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Finally, Oppenheimer boosted their price objective on Broadcom from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus target price of $292.08.

Broadcom 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.