Laurel Wealth Advisors Inc. Decreases Holdings in Broadcom Limited (AVGO)

Laurel Wealth Advisors Inc. lowered its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,476 shares of the semiconductor manufacturer’s stock after selling 66 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Broadcom Limited were worth $343,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Peapack Gladstone Financial Corp lifted its stake in shares of Broadcom Limited by 0.4% in the 1st quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 9 shares during the last quarter. Spectrum Management Group Inc. lifted its stake in shares of Broadcom Limited by 0.4% in the 2nd quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock valued at $551,000 after purchasing an additional 10 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Broadcom Limited by 0.7% in the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock valued at $460,000 after purchasing an additional 13 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Broadcom Limited by 1.4% in the 1st quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock valued at $238,000 after purchasing an additional 15 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in shares of Broadcom Limited by 0.9% in the 2nd quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock valued at $447,000 after purchasing an additional 17 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Shares of Broadcom Limited (NASDAQ AVGO) traded up 0.20% during trading on Wednesday, hitting $246.47. 264,199 shares of the stock were exchanged. The firm has a 50 day moving average price of $245.74 and a 200 day moving average price of $239.10. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The firm has a market capitalization of $100.55 billion, a P/E ratio of 188.15 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the company earned $2.89 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. Analysts forecast that Broadcom Limited will post $15.91 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were given a dividend of $1.02 per share. The ex-dividend date was Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.66%. Broadcom Limited’s dividend payout ratio is presently 348.72%.

In related news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,788 shares of company stock worth $15,098,237. 3.60% of the stock is owned by corporate insiders.

Several research firms recently issued reports on AVGO. KeyCorp reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Broadcom Limited in a research note on Wednesday, August 23rd. UBS AG reaffirmed an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, August 24th. Robert W. Baird reaffirmed an “outperform” rating and issued a $290.00 price objective (up previously from $260.00) on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $286.00 price objective (up previously from $270.00) on shares of Broadcom Limited in a research note on Friday, August 25th. One investment analyst has rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $276.80.

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Broadcom Limited Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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