Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Capstone Wealth Management Group LLC

Capstone Wealth Management Group LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,687 shares of the semiconductor manufacturer’s stock after acquiring an additional 185 shares during the period. Broadcom makes up about 3.9% of Capstone Wealth Management Group LLC’s investment portfolio, making the stock its 8th biggest position. Capstone Wealth Management Group LLC’s holdings in Broadcom were worth $5,919,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. TBH Global Asset Management LLC boosted its stake in Broadcom by 29.2% in the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after buying an additional 145 shares in the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of Broadcom by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after acquiring an additional 39 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Broadcom by 15.9% in the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock valued at $512,000 after purchasing an additional 63 shares in the last quarter. 9258 Wealth Management LLC grew its holdings in shares of Broadcom by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after purchasing an additional 58 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its position in shares of Broadcom by 99.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after purchasing an additional 801 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 2.2 %

AVGO opened at $164.02 on Tuesday. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16. The firm has a market cap of $763.49 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s fifty day moving average is $157.41 and its two-hundred day moving average is $145.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America restated a “buy” rating and issued a $215.00 price target (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Melius assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price for the company. Oppenheimer decreased their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group boosted their price objective on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.