YorkBridge Wealth Partners LLC lowered its position in Broadcom Inc. (NASDAQ: AVGO – Get Rating) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,851 shares of the semiconductor manufacturer’s stock after selling 184 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Broadcom were worth $ 1,166,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of AVGO. Investment Research & Advisory Group Inc. acquired a new position in Broadcom in the fourth quarter valued at $ 25,000. TFO TDC LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $ 25,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $ 25,000. Focused Wealth Management Inc lifted its stake in shares of Broadcom by 101.0% during the fourth quarter. Focused Wealth Management Inc now owns 40 shares of the semiconductor manufacturer’s stock worth $ 27,000 after purchasing an additional 4,000 shares in the last quarter. Finally, West Bancorporation Inc. acquired a new position in shares of Broadcom during the fourth quarter worth about $ 29,000. Hedge funds and other institutional investors own 81.53% of the company stock.
Shares of Broadcom stock opened at $ 509.09 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.14 and a debt-to-equity ratio of 1.87. The firm has a market cap of $ 205.58 billion, a P / E ratio of 25.24, a P / E / G ratio of 0.96 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $ 455.71 and a fifty-two week high of $ 677.76. The business has a 50-day moving average price of $ 558.01 and a 200 day moving average price of $ 587.81.
Broadcom (NASDAQ: AVGO – Get Rating) last announced its quarterly earnings data on Thursday, May 26th. The semiconductor manufacturer reported $ 9.07 earnings per share for the quarter, beating the consensus estimate of $ 7.88 by $ 1.19. The firm had revenue of $ 8.10 billion during the quarter, compared to analyst estimates of $ 7.91 billion. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. Broadcom’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $ 5.89 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 33.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd will be issued a dividend of $ 4.10 per share. This represents a $ 16.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, June 21st. Broadcom’s dividend payout ratio (DPR) is presently 81.31%.
Broadcom declared that its Board of Directors has initiated a stock buyback program on Thursday, May 26th that allows the company to buyback $ 10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company management believes its stock is undervalued.
AVGO has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on Broadcom from $ 723.00 to $ 703.00 and set an “overweight” rating on the stock in a research note on Friday, March 4th. UBS Group boosted their price target on Broadcom from $ 665.00 to $ 690.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. Rosenblatt Securities boosted their price target on Broadcom from $ 750.00 to $ 775.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. Susquehanna Bancshares reiterated a “buy” rating and issued a $ 680.00 price target on shares of Broadcom in a research note on Tuesday, March 1st. Finally, Truist Financial boosted their price target on Broadcom to $ 658.00 in a research note on Friday, May 27th. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $ 685.70.
In other news, CFO Kirsten M. Spears sold 3,000 shares of the company stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $ 625.86, for a total transaction of $ 1,877,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane M. Bryant sold 476 shares of the company stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $ 629.55, for a total value of $ 299,665.80. Following the transaction, the director now directly owns 1,560 shares of the company stock, valued at $ 982,098. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Broadcom Profile: (Get Rating)
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.
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ: AVGO – Get Rating).
Receive News & Ratings for Broadcom Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Broadcom and related companies with MarketBeat.com’s FREE daily email newsletter.