Broadcom Inc. (NASDAQ:AVGO) Holdings Trimmed by Fonville Wealth Management LLC

Fonville Wealth Management LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,311 shares of the semiconductor manufacturer’s stock after selling 289 shares during the quarter. Fonville Wealth Management LLC’s holdings in Broadcom were worth $220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC grew its position in Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after buying an additional 14,399 shares during the last quarter. OMNI 360 Wealth Inc. increased its holdings in shares of Broadcom by 51.6% in the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer’s stock valued at $499,000 after buying an additional 1,014 shares in the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Broadcom by 1,512.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after acquiring an additional 86,884 shares during the last quarter. Finally, Colonial Trust Co SC lifted its position in shares of Broadcom by 14.6% during the 4th quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer’s stock valued at $2,338,000 after acquiring an additional 1,285 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares in the company, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,716 shares of company stock worth $216,933,761 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 0.9%

AVGO opened at $275.40 on Friday. The company has a market capitalization of $1.30 trillion, a PE ratio of 103.15, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12. 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 Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $281.18. The business has a 50-day moving average of $245.29 and a 200-day moving average of $218.63.

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

Broadcom announced that its Board of Directors has initiated a share 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 reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom’s dividend payout ratio is currently 88.39%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. UBS Group lifted their target price on Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Bank of America lifted their price target on Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a “buy” rating and a $301.00 price objective for the company. Benchmark raised their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $290.21.

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.