Kiley Juergens Wealth Management LLC Acquires 87 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kiley Juergens Wealth Management LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 56,940 shares of the semiconductor manufacturer’s stock after purchasing an additional 87 shares during the period. Broadcom accounts for 2.5% of Kiley Juergens Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Kiley Juergens Wealth Management LLC’s holdings in Broadcom were worth $9,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AVGO. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom in the 4th quarter valued at $32,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on AVGO shares. Truist Financial set a $295.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Friday, June 6th. Cowen restated a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. Susquehanna raised their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research report on Friday, June 6th. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Rosenblatt Securities raised their price objective on shares of Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.09.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $249.37 on Wednesday. The stock has a market cap of $1.17 trillion, a PE ratio of 93.40, a PEG ratio of 1.79 and a beta of 1.11. The company’s fifty day moving average is $216.21 and its 200 day moving average is $210.74. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO) last announced 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $10.96 EPS. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

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

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the sale, the chief executive officer now directly owns 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider now owns 789,784 shares of the company’s stock, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 848,334 shares of company stock valued at $163,560,669 in the last quarter. Insiders own 2.00% of the company’s stock.

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.