Gradient Capital Advisors LLC purchased a new position in shares of Broadcom Inc (NASDAQ:AVGO) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 678 shares of the semiconductor manufacturer’s stock, valued at approximately $204,000.
Several other institutional investors have also bought and sold shares of AVGO. BTIM Corp. raised its position in shares of Broadcom by 1.7% during the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock worth $566,000 after purchasing an additional 32 shares during the period. Lincoln National Corp raised its position in shares of Broadcom by 4.1% during the fourth quarter. Lincoln National Corp now owns 929 shares of the semiconductor manufacturer’s stock worth $236,000 after purchasing an additional 37 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Broadcom by 1.4% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock worth $886,000 after purchasing an additional 40 shares during the period. Quadrant Capital Group LLC raised its position in shares of Broadcom by 2.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock worth $346,000 after purchasing an additional 41 shares during the period. Finally, Intl Fcstone Inc. raised its position in shares of Broadcom by 3.7% during the first quarter. Intl Fcstone Inc. now owns 1,167 shares of the semiconductor manufacturer’s stock worth $351,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 86.95% of the company’s stock.
Shares of Broadcom stock opened at $318.50 on Wednesday. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $320.01. The firm has a market cap of $125.25 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.48 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm posted $5.12 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $2.65 per share. The ex-dividend date was Wednesday, March 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.33%. Broadcom’s payout ratio is 56.29%.
A number of equities research analysts recently commented on AVGO shares. Morgan Stanley lowered their price target on Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Mizuho increased their price target on Broadcom from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, March 15th. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. JPMorgan Chase & Co. increased their price target on Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. Finally, Citigroup started coverage on Broadcom in a research report on Friday, March 15th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $301.99.
In other news, SVP Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $304.51, for a total transaction of $3,045,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirsten M. Spears sold 4,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $306.31, for a total value of $1,225,240.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,824 shares of company stock valued at $20,089,519 in the last quarter. 3.30% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION WARNING: This story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.dispatchtribunal.com/2019/04/17/gradient-capital-advisors-llc-purchases-new-holdings-in-broadcom-inc-avgo.html.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
Featured Story: Discount Rate
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.