Souders Financial Advisors Has $4.90 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Souders Financial Advisors decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,269 shares of the semiconductor manufacturer’s stock after selling 8,098 shares during the quarter. Souders Financial Advisors’ holdings in Broadcom were worth $4,900,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake 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 valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC grew its stake in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Diversify Wealth Management LLC increased its position in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock valued at $6,365,000 after buying an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. raised its stake in Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer’s stock worth $499,000 after buying an additional 1,014 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its holdings in Broadcom by 1,512.3% in the fourth 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 in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $283.34 on Friday. The firm has a market capitalization of $1.33 trillion, a PE ratio of 106.12, a P/E/G ratio of 2.02 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $254.41 and a two-hundred day moving average price of $220.25. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $288.28.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 35.49% and a net margin of 22.64%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.96 earnings per share. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s payout ratio is 88.39%.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 56,310 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company’s stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was 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 owned 1,014,152 shares of the company’s stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,224,641 in the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 target price on the stock. Bank of America lifted their target price on Broadcom from $240.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $292.08.

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.