Vestmark Advisory Solutions Inc. Has $15.66 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Vestmark Advisory Solutions Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 128.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,529 shares of the semiconductor manufacturer’s stock after buying an additional 52,640 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Broadcom were worth $15,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. True Wealth Design LLC boosted its position in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after buying an additional 48 shares during the period. Fulton Breakefield Broenniman LLC boosted its position in Broadcom by 2.4% during the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer’s stock valued at $357,000 after purchasing an additional 50 shares during the last quarter. American Financial Advisors LLC boosted its position in Broadcom by 3.8% during the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $240,000 after purchasing an additional 52 shares during the last quarter. GS Investments Inc. boosted its position in Broadcom by 0.5% during the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer’s stock valued at $1,908,000 after purchasing an additional 52 shares during the last quarter. Finally, First Bank & Trust boosted its position in Broadcom by 1.9% during the first quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer’s stock valued at $493,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Mizuho lifted their price objective on Broadcom from $315.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Barclays lifted their price objective on Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. Susquehanna lifted their price objective on Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research report on Friday, June 6th. Finally, Citigroup lifted their price objective on Broadcom from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Buy” and an average price target of $294.92.

Broadcom Trading Down 1.2%

Shares of AVGO opened at $309.09 on Thursday. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $317.35. 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 firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 115.76, a P/E/G ratio of 2.22 and a beta of 1.15. The stock’s 50-day moving average price is $276.06 and its 200 day moving average price is $228.20.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company posted $10.96 earnings per share. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio is currently 88.39%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 473,898 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 24,582 shares in the company, valued at $6,742,842.60. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 829,716 shares of company stock worth $217,040,489. Insiders own 2.00% of the company’s stock.

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.