Ritholtz Wealth Management Buys 736 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ritholtz Wealth Management increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 65.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,859 shares of the semiconductor manufacturer’s stock after purchasing an additional 736 shares during the quarter. Ritholtz Wealth Management’s holdings in Broadcom were worth $862,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Phoenix Wealth Advisors raised its holdings in shares of Broadcom by 200.0% in the 1st quarter. Phoenix Wealth Advisors now owns 57 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 38 shares during the period. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $29,000. Wealthcare Capital Management LLC bought a new stake in Broadcom during the 1st quarter valued at $31,000. Bedel Financial Consulting Inc. raised its holdings in Broadcom by 590.0% during the 1st quarter. Bedel Financial Consulting Inc. now owns 69 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 59 shares during the period. Finally, Mcmillion Capital Management Inc. bought a new stake in Broadcom during the 4th quarter valued at $35,000. 81.51% of the stock is currently owned by institutional investors.

In related news, Director Harry L. You sold 100 shares of the stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $474.23, for a total value of $47,423.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 530 shares of the stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $465.74, for a total transaction of $246,842.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,997 shares of company stock valued at $13,239,016. 2.40% of the stock is owned by insiders.

A number of equities research analysts have issued reports on the stock. Oppenheimer reissued a “buy” rating and set a $575.00 target price on shares of Broadcom in a report on Thursday, May 27th. Robert W. Baird boosted their target price on shares of Broadcom from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of Broadcom from $450.00 to $475.00 and gave the company an “equal weight” rating in a report on Friday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Friday, March 5th. Finally, Loop Capital upped their price target on shares of Broadcom from $460.00 to $540.00 in a report on Monday, March 8th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Broadcom has an average rating of “Buy” and an average price target of $491.38.

Shares of NASDAQ:AVGO opened at $470.40 on Friday. The company has a market capitalization of $192.07 billion, a P/E ratio of 43.68, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93. The company’s 50-day moving average price is $461.83. The company has a current ratio of 2.21, a quick ratio of 2.06 and a debt-to-equity ratio of 1.68. Broadcom Inc. has a 12 month low of $292.41 and a 12 month high of $495.14.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 2nd. The semiconductor manufacturer reported $6.62 EPS for the quarter, beating the consensus estimate of $6.43 by $0.19. The firm had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.51 billion. Broadcom had a net margin of 19.11% and a return on equity of 41.39%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.14 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 23.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 22nd will be paid a dividend of $3.60 per share. This represents a $14.40 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, June 21st. Broadcom’s dividend payout ratio (DPR) is 78.05%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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