Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Greenwood Gearhart Inc.

Greenwood Gearhart Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,296 shares of the semiconductor manufacturer’s stock after selling 60 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Broadcom were worth $7,584,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at $30,000. Sellwood Investment Partners LLC purchased a new stake in Broadcom during the 4th quarter worth $32,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter worth $25,000. Finally, Inlight Wealth Management LLC acquired a new position in Broadcom in the 1st quarter worth $26,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $10.31 during mid-day trading on Tuesday, reaching $277.90. 4,001,002 shares of the company traded hands, compared to its average volume of 27,688,015. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $290.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm has a market cap of $1.31 trillion, a PE ratio of 104.83, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The stock has a fifty day simple moving average of $254.41 and a 200-day simple moving average of $220.17.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the prior year, the business earned $10.96 earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has initiated a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.85%. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. Redburn Atlantic began coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price objective on the stock. Oppenheimer boosted their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Benchmark boosted their price objective on shares of Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $292.08.

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.