Angeles Wealth Management LLC Acquires 448 Shares of Broadcom Inc. (NASDAQ:AVGO)

Angeles Wealth Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,712 shares of the semiconductor manufacturer’s stock after buying an additional 448 shares during the period. Angeles Wealth Management LLC’s holdings in Broadcom were worth $2,631,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC grew its stake in shares of Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Northern Trust Corp raised its holdings in shares of Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after buying an additional 5,258,925 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 46.9% in the 4th 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 buying an additional 15,171,849 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer’s stock valued at $7,975,616,000 after acquiring an additional 581,704 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $290.18 on Friday. 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 $1.36 trillion, a price-to-earnings ratio of 108.68, a P/E/G ratio of 2.05 and a beta of 1.12. The stock’s fifty day moving average price is $260.05 and its two-hundred day moving average price is $222.18. Broadcom Inc. has a one year low of $128.50 and a one year high of $292.59.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating 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 firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the company posted $10.96 EPS. The company’s revenue was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s payout ratio is presently 88.39%.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVGO. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Broadcom in a research report on Thursday, July 10th. They set a “buy” rating and a $315.00 target price for the company. Benchmark lifted their price objective on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Redburn Atlantic started coverage on Broadcom in a report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price objective for the company. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Buy” and an average target price of $292.08.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, July 14th. The stock was sold at an average price of $274.30, for a total value of $219,440.00. Following the transaction, the director owned 24,582 shares in the company, valued at approximately $6,742,842.60. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the business’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares of the company’s stock, valued at $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.