Toth Financial Advisory Corp Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Toth Financial Advisory Corp grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,767 shares of the semiconductor manufacturer’s stock after purchasing an additional 649 shares during the quarter. Toth Financial Advisory Corp’s holdings in Broadcom were worth $5,821,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVGO. Baldwin Wealth Partners LLC MA increased its stake in shares of Broadcom by 5.4% during the 1st quarter. Baldwin Wealth Partners LLC MA now owns 9,549 shares of the semiconductor manufacturer’s stock valued at $1,599,000 after acquiring an additional 485 shares during the last quarter. McDonough Capital Management Inc grew its holdings in Broadcom by 18.4% in the first quarter. McDonough Capital Management Inc now owns 9,203 shares of the semiconductor manufacturer’s stock valued at $1,541,000 after purchasing an additional 1,428 shares during the period. Sherman Asset Management Inc. acquired a new position in Broadcom during the first quarter worth approximately $3,985,000. Abacus Planning Group Inc. raised its stake in Broadcom by 36.5% during the first quarter. Abacus Planning Group Inc. now owns 3,588 shares of the semiconductor manufacturer’s stock worth $601,000 after purchasing an additional 959 shares during the period. Finally, PFW Advisors LLC raised its stake in Broadcom by 4.9% during the first quarter. PFW Advisors LLC now owns 5,546 shares of the semiconductor manufacturer’s stock worth $929,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last ninety days. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 5.0%

NASDAQ:AVGO opened at $246.95 on Monday. The stock has a market cap of $1.16 trillion, a price-to-earnings ratio of 201.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The business’s 50-day simple moving average is $203.73 and its 200 day simple moving average is $206.81.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $10.96 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has approved a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Broadcom from $240.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. Mizuho boosted their price target on Broadcom from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday. Cowen restated a “buy” rating on shares of Broadcom in a research note on Friday. Rosenblatt Securities lifted their price objective on Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.25.

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.