Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Brady Family Wealth LLC

Brady Family Wealth LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,617 shares of the semiconductor manufacturer’s stock after selling 1,029 shares during the period. Broadcom makes up about 2.3% of Brady Family Wealth LLC’s investment portfolio, making the stock its 11th largest holding. Brady Family Wealth LLC’s holdings in Broadcom were worth $7,303,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tallon Kerry Patrick purchased a new position in shares of Broadcom in the fourth quarter worth approximately $357,000. Capital & Planning LLC grew its position in Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 554 shares in the last quarter. LaFleur & Godfrey LLC raised its stake in Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock valued at $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC lifted its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Broadcom in the fourth quarter worth $71,312,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVGO. Mizuho increased their price objective on Broadcom from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, June 6th. Citigroup raised their price target on shares of Broadcom from $276.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Oppenheimer upped their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. 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’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $276.09.

Insider Activity 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 the firm’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 transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 849,134 shares of company stock valued at $163,760,949 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.8%

NASDAQ AVGO opened at $251.26 on Friday. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average is $219.11 and its two-hundred day moving average is $211.61. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.79 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. During the same period in the prior year, the business posted $10.96 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. Equities analysts forecast 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 will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Broadcom announced that its board has approved a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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.