Motive Wealth Advisors Has $729,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Motive Wealth Advisors trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,354 shares of the semiconductor manufacturer’s stock after selling 246 shares during the quarter. Motive Wealth Advisors’ holdings in Broadcom were worth $729,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the fourth quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the sale, the insider now owns 789,784 shares of the company’s stock, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares of the company’s stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 730,576 shares of company stock valued at $133,778,494. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVGO. Barclays increased their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Morgan Stanley raised their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Benchmark raised their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $276.09.

Broadcom Stock Down 2.9%

NASDAQ AVGO opened at $248.70 on Friday. The stock has a fifty day moving average of $213.01 and a 200-day moving average of $209.50. The stock has a market capitalization of $1.17 trillion, a P/E ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

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

Broadcom declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

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.