Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Falcon Wealth Planning

Falcon Wealth Planning raised its position in Broadcom Inc. (NASDAQ:AVGO) by 14.5% during the first quarter, HoldingsChannel.com reports. The firm owned 3,254 shares of the semiconductor manufacturer’s stock after buying an additional 411 shares during the quarter. Falcon Wealth Planning’s holdings in Broadcom were worth $545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $26,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the first quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the fourth quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer now directly owns 361,937 shares of the company’s stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 811,716 shares of company stock valued at $209,906,771. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.3%

Broadcom stock opened at $269.35 on Friday. The business has a 50 day moving average price of $229.43 and a two-hundred day moving average price of $215.28. 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 $1.27 trillion, a price-to-earnings ratio of 100.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $271.85.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.88%. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Benchmark boosted their target price on Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Citigroup upped their price target on Broadcom from $276.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Wells Fargo & Company upped their price target on Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, June 6th. Susquehanna upped their price target on Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a research note on Friday, June 6th. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $281.25.

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.