Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Reduced by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,646 shares of the semiconductor manufacturer’s stock after selling 709 shares during the quarter. Broadcom makes up approximately 2.1% of Masso Torrence Wealth Management Inc.’s holdings, making the stock its 15th biggest position. Masso Torrence Wealth Management Inc.’s holdings in Broadcom were worth $3,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Norges Bank purchased a new position in Broadcom in the fourth quarter valued at about $16,893,010,000. GAMMA Investing LLC grew its stake in Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. GQG Partners LLC grew its stake in Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVGO. Truist Financial set a $295.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Friday, June 6th. Oppenheimer upped their price target on Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Evercore ISI reiterated an “outperform” rating and set a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Cowen reiterated a “buy” rating on shares of Broadcom in a research note on Friday, June 6th. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $276.09.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,134 shares of company stock valued at $163,760,949. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.5%

Broadcom stock opened at $249.99 on Friday. The business has a 50 day moving average price of $220.48 and a two-hundred day moving average price of $212.46. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 93.63, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.96 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. 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 0.94%. Broadcom’s payout ratio is presently 88.39%.

Broadcom announced that its board has approved a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.