Colonial Trust Advisors Acquires 5,172 Shares of Broadcom Inc. $AVGO

Colonial Trust Advisors increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 161.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,376 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,172 shares during the quarter. Colonial Trust Advisors’ holdings in Broadcom were worth $1,402,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. PARUS FINANCE UK Ltd raised its stake in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock worth $16,840,000 after acquiring an additional 64,038 shares in the last quarter. Nebula Research & Development LLC raised its stake in shares of 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 in the last quarter. Keener Financial Planning LLC raised its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after acquiring an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its stake in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after acquiring an additional 2,016 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. Mizuho upped their price target on Broadcom from $315.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Redburn Atlantic initiated coverage on Broadcom in a research report on Wednesday, May 28th. They set a “buy” rating and a $301.00 target price on the stock. UBS Group upped their target price on 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 Broadcom and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Wells Fargo & Company upped their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Buy” and a consensus price target of $295.96.

Broadcom Trading Down 0.2%

Shares of AVGO stock opened at $305.76 on Tuesday. 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 cap of $1.44 trillion, a price-to-earnings ratio of 114.52, a PEG ratio of 2.18 and a beta of 1.15. The stock has a 50 day simple moving average of $279.50 and a 200-day simple moving average of $230.48. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during 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 firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $10.96 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio is 88.39%.

Insider Activity

In related news, insider Mark David Brazeal sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock worth $217,286,457. Company insiders own 2.00% of the company’s stock.

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.