JBR Co Financial Management Inc Has $377,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

JBR Co Financial Management Inc boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.1% during the 1st quarter, HoldingsChannel reports. The fund owned 2,249 shares of the semiconductor manufacturer’s stock after buying an additional 312 shares during the quarter. JBR Co Financial Management Inc’s holdings in Broadcom were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its position in shares of Broadcom by 5.1% during the 1st quarter. Marino Stram & Associates LLC now owns 6,432 shares of the semiconductor manufacturer’s stock valued at $1,077,000 after acquiring an additional 313 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Broadcom by 4.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 56,960 shares of the semiconductor manufacturer’s stock valued at $9,541,000 after purchasing an additional 2,328 shares in the last quarter. Accelerate Investment Advisors LLC grew its stake in shares of Broadcom by 47.5% in the 1st quarter. Accelerate Investment Advisors LLC now owns 3,053 shares of the semiconductor manufacturer’s stock valued at $511,000 after purchasing an additional 983 shares during the period. Essex Savings Bank raised its holdings in shares of Broadcom by 0.5% in the 1st quarter. Essex Savings Bank now owns 25,674 shares of the semiconductor manufacturer’s stock worth $4,299,000 after buying an additional 137 shares in the last quarter. Finally, Hoge Financial Services LLC raised its holdings in shares of Broadcom by 12.5% in the 1st quarter. Hoge Financial Services LLC now owns 1,273 shares of the semiconductor manufacturer’s stock worth $213,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AVGO shares. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Benchmark lifted their price objective on Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a report on Friday, June 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a “buy” rating in a report on Friday, June 6th. Finally, Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Three equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $276.09.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the sale, the chief executive officer now directly owns 1,014,152 shares of the company’s stock, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 848,334 shares of company stock worth $163,560,669. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 1.1%

AVGO stock opened at $249.37 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The company has a market cap of $1.17 trillion, a P/E ratio of 93.40, a PEG ratio of 1.79 and a beta of 1.11. The business has a fifty day moving average of $216.21 and a 200-day moving average of $210.74.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. 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 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Broadcom declared that its Board of Directors has authorized a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.