Albert D Mason Inc. Has $363,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Albert D Mason Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 18.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,170 shares of the semiconductor manufacturer’s stock after buying an additional 331 shares during the period. Albert D Mason Inc.’s holdings in Broadcom were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quintet Private Bank Europe S.A. increased its holdings in shares of Broadcom by 0.4% in the first quarter. Quintet Private Bank Europe S.A. now owns 19,016 shares of the semiconductor manufacturer’s stock valued at $3,184,000 after purchasing an additional 76 shares during the last quarter. Sky Investment Group LLC grew its stake in shares of Broadcom by 11.9% in the first quarter. Sky Investment Group LLC now owns 10,957 shares of the semiconductor manufacturer’s stock valued at $1,835,000 after acquiring an additional 1,164 shares in the last quarter. Tobam grew its stake in shares of Broadcom by 153.1% in the first quarter. Tobam now owns 17,548 shares of the semiconductor manufacturer’s stock valued at $2,938,000 after acquiring an additional 10,614 shares in the last quarter. RFG Holdings Inc. grew its stake in shares of Broadcom by 10.8% in the first quarter. RFG Holdings Inc. now owns 6,181 shares of the semiconductor manufacturer’s stock valued at $1,037,000 after acquiring an additional 601 shares in the last quarter. Finally, Legacy Trust grew its stake in shares of Broadcom by 58.7% in the first quarter. Legacy Trust now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $376,000 after acquiring an additional 830 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $256.07 on Friday. 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’s fifty day simple moving average is $211.15 and its two-hundred day simple moving average is $208.57. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The stock has a market cap of $1.20 trillion, a PE ratio of 208.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. During the same period last year, the business earned $10.96 EPS. The business’s revenue was up 20.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s payout ratio is 88.39%.

Broadcom announced 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 shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Oppenheimer upped their price objective on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. KeyCorp upped their price objective 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. Bank of America upped their price objective on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, UBS Group upped their price objective on shares of Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.71.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated 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 of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last ninety days. Company insiders own 2.00% of the company’s stock.

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.