Wealthcare Advisory Partners LLC lowered its position in shares of Broadcom Inc (NASDAQ:AVGO) by 33.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100 shares of the semiconductor manufacturer’s stock after selling 50 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Broadcom were worth $30,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. BTIM Corp. raised its stake in Broadcom by 1.7% in the 1st quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock valued at $566,000 after acquiring an additional 32 shares during the period. Parkside Financial Bank & Trust raised its stake in Broadcom by 9.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock valued at $119,000 after acquiring an additional 33 shares during the period. Lindbrook Capital LLC raised its stake in Broadcom by 5.4% in the 1st quarter. Lindbrook Capital LLC now owns 662 shares of the semiconductor manufacturer’s stock valued at $199,000 after acquiring an additional 34 shares during the period. Lincoln National Corp raised its stake in Broadcom by 4.1% in the 4th quarter. Lincoln National Corp now owns 929 shares of the semiconductor manufacturer’s stock valued at $236,000 after acquiring an additional 37 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its stake in Broadcom by 1.4% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock valued at $886,000 after acquiring an additional 40 shares during the period. 84.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the company. Barclays restated an “overweight” rating and issued a $315.00 price target (down previously from $360.00) on shares of Broadcom in a research note on Friday. Charter Equity cut Broadcom from a “buy” rating to a “market perform” rating and set a $254.00 price objective on the stock. in a research report on Friday. Cowen reiterated a “market perform” rating and set a $265.00 price objective (down previously from $280.00) on shares of Broadcom in a research report on Friday. Mizuho reiterated a “buy” rating and set a $330.00 price objective (down previously from $335.00) on shares of Broadcom in a research report on Friday. Finally, KeyCorp reiterated an “overweight” rating and set a $310.00 price objective (down previously from $350.00) on shares of Broadcom in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $299.32.
NASDAQ:AVGO traded down $18.35 during trading hours on Friday, hitting $263.27. The company’s stock had a trading volume of 5,690,331 shares, compared to its average volume of 3,175,010. The firm has a market capitalization of $110.73 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.26 and a beta of 0.87. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $323.20.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.03. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. Broadcom’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $4.88 earnings per share. On average, analysts anticipate that Broadcom Inc will post 17.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 24th will be paid a $2.65 dividend. This represents a $10.60 annualized dividend and a yield of 4.03%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.
In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas H. Krause sold 14,494 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $295.45, for a total value of $4,282,252.30. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock worth $20,565,519 over the last ninety days. 3.30% of the stock is currently owned by insiders.
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Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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