Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Compass Wealth Management LLC

Compass Wealth Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 112,572 shares of the semiconductor manufacturer’s stock after selling 15,560 shares during the period. Broadcom makes up 4.8% of Compass Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Compass Wealth Management LLC’s holdings in Broadcom were worth $18,848,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after acquiring an additional 18,845 shares during the last quarter. Nebula Research & Development LLC grew its holdings in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after acquiring an additional 14,399 shares during the last quarter. Coppell Advisory Solutions LLC grew its holdings in Broadcom by 1,512.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after acquiring an additional 86,884 shares during the last quarter. Colonial Trust Co SC grew its holdings in Broadcom by 14.6% during the 4th quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer’s stock worth $2,338,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Broadcom by 7.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,695,694 shares of the semiconductor manufacturer’s stock worth $624,970,000 after acquiring an additional 183,474 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 1.8%

Shares of NASDAQ AVGO opened at $274.87 on Friday. The company has a market capitalization of $1.29 trillion, a P/E ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $277.71. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company’s 50 day moving average price is $238.77 and its 200-day moving average price is $217.17.

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, topping 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 net margin of 22.64% and a return on equity of 35.49%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.96 EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its board has initiated a share buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the business’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 854,716 shares of company stock worth $221,433,761. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. UBS Group upped their target price on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Friday, June 6th. HSBC upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Finally, Mizuho upped their target price on shares of Broadcom from $310.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $281.46.

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.