Roman Butler Fullerton & Co. Sells 84 Shares of Broadcom Inc. (NASDAQ:AVGO)

Roman Butler Fullerton & Co. lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,083 shares of the semiconductor manufacturer’s stock after selling 84 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Broadcom were worth $731,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC grew its holdings in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Kovack Advisors Inc. increased its position in shares of Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after buying an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock worth $245,000 after buying an additional 355 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its holdings in Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after acquiring an additional 86,884 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America increased their target price on Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Susquehanna raised their price objective on shares of Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a report on Friday, June 6th. Barclays upped their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $276.09.

Broadcom Trading Down 1.1%

Shares of Broadcom stock opened at $249.37 on Wednesday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 93.40, a P/E/G ratio of 1.79 and a beta of 1.11. The business has a fifty day simple moving average of $216.21 and a two-hundred day simple moving average of $210.74. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the company earned $10.96 earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. Broadcom’s dividend payout ratio is 88.39%.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer now owns 1,014,152 shares of the company’s stock, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 848,334 shares of company stock valued at $163,560,669 over the last three months. 2.00% of the stock is owned by insiders.

About Broadcom

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.