Boulder Wealth Advisors LLC Purchases 67 Shares of Broadcom Inc. (NASDAQ:AVGO)

Boulder Wealth Advisors LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,810 shares of the semiconductor manufacturer’s stock after acquiring an additional 67 shares during the period. Broadcom accounts for 0.6% of Boulder Wealth Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Boulder Wealth Advisors LLC’s holdings in Broadcom were worth $973,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AVGO. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its position 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 valued at $3,642,000 after purchasing an additional 14,399 shares during the period. SOA Wealth Advisors LLC. increased its position in Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after purchasing an additional 355 shares during the period. Coppell Advisory Solutions LLC raised its holdings in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after purchasing an additional 86,884 shares in the last quarter. Finally, Colonial Trust Co SC lifted its position in shares of Broadcom by 14.6% in the 4th quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer’s stock worth $2,338,000 after purchasing an additional 1,285 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares of the company’s stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 1.8%

NASDAQ:AVGO opened at $274.87 on Friday. 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 firm has a market cap of $1.29 trillion, a P/E ratio of 102.95, a P/E/G ratio of 1.92 and a beta of 1.12. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The firm has a 50-day simple moving average of $237.12 and a two-hundred day simple moving average of $216.98.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.96 earnings per share. 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 authorized 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 usually an indication that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, June 20th. Broadcom’s payout ratio is 88.39%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. HSBC upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Morgan Stanley lifted their price objective on Broadcom from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Rosenblatt Securities raised their target price on Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, June 6th. UBS Group lifted their price target on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $281.46.

Broadcom Company 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.