Keener Financial Planning LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Keener Financial Planning LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 34.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 890 shares of the semiconductor manufacturer’s stock after acquiring an additional 230 shares during the quarter. Keener Financial Planning LLC’s holdings in Broadcom were worth $149,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Northern Trust Corp boosted its stake in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares during 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 worth $11,018,089,000 after buying an additional 15,171,849 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadcom by 1.7% in the 4th 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 worth $7,975,616,000 after purchasing an additional 581,704 shares during the period. GAMMA Investing LLC raised its holdings in shares of Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Broadcom by 14.8% in the 4th quarter. Janus Henderson Group PLC now owns 15,358,690 shares of the semiconductor manufacturer’s stock worth $3,560,643,000 after purchasing an additional 1,974,620 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was 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 of the company’s stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. 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 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $297.72 on Tuesday. The firm has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 111.51, a P/E/G ratio of 2.05 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $306.95. The stock’s 50 day moving average price is $267.94 and its two-hundred day moving average price is $224.92.

Broadcom (NASDAQ:AVGO) last issued 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. 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 company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $10.96 EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors 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 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Redburn Atlantic assumed coverage on Broadcom in a report on Wednesday, May 28th. They set a “buy” rating and a $301.00 target price on the stock. Arete Research upgraded Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Cowen reiterated a “buy” rating on shares of Broadcom in a report on Friday, June 6th. Citigroup raised their target price on Broadcom from $285.00 to $315.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, UBS Group raised their target price on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $294.92.

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.