Paulson Wealth Management Inc. Has $978,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Paulson Wealth Management Inc. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,839 shares of the semiconductor manufacturer’s stock after selling 779 shares during the period. Paulson Wealth Management Inc.’s holdings in Broadcom were worth $978,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom during the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom during the 1st quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. HSBC raised Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Tuesday, June 24th. Hsbc Global Res raised Broadcom from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 24th. Wells Fargo & Company raised their target price on Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Barclays raised their target price on Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $294.92.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider owned 415,956 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $304.97 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market capitalization of $1.43 trillion, a PE ratio of 114.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. Broadcom Inc. has a one year low of $134.90 and a one year high of $310.34. The business has a 50 day simple moving average of $272.87 and a 200 day simple moving average of $226.63.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter last year, the company earned $10.96 EPS. Broadcom’s revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 annualized dividend and a yield of 0.8%. Broadcom’s payout ratio is presently 88.39%.

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.