Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 150.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,294 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,998 shares during the period. Capital Asset Advisory Services LLC’s holdings in Broadcom were worth $4,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AVGO. Tallon Kerry Patrick acquired a new position in Broadcom during the fourth quarter worth $357,000. Capital & Planning LLC boosted its stake in Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after buying an additional 554 shares during the last quarter. LaFleur & Godfrey LLC boosted its stake in Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock worth $18,145,000 after buying an additional 12,345 shares during the last quarter. Brighton Jones LLC boosted its stake in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Broadcom during the fourth quarter worth $71,312,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on AVGO shares. Susquehanna boosted their price objective on Broadcom from $250.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 29th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Mizuho upped their price target on Broadcom from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.77.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $248.71 on Tuesday. The stock’s 50-day moving average is $196.77 and its two-hundred day moving average is $204.25. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The company has a market cap of $1.17 trillion, a price-to-earnings ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 0.95%. Broadcom’s dividend payout ratio (DPR) 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.