Sulzberger Capital Advisors Inc. Sells 1,274 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sulzberger Capital Advisors Inc. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 18.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,703 shares of the semiconductor manufacturer’s stock after selling 1,274 shares during the quarter. Broadcom comprises 1.3% of Sulzberger Capital Advisors Inc.’s investment portfolio, making the stock its 18th biggest position. Sulzberger Capital Advisors Inc.’s holdings in Broadcom were worth $955,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AVGO. SlateStone Wealth LLC grew its holdings in Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after purchasing an additional 47 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 48 shares in the last quarter. DT Investment Partners LLC grew its stake in Broadcom by 0.9% during the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock worth $1,251,000 after buying an additional 50 shares during the last quarter. Bfsg LLC increased its position in Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock valued at $105,000 after buying an additional 50 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC raised its stake in Broadcom by 1.5% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $782,000 after buying an additional 50 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating and set a $276.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Tuesday. Bank of America boosted their target price on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer boosted their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their target price on Broadcom from $250.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday. Two analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.25.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 5.0%

AVGO stock opened at $246.95 on Friday. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm’s fifty day moving average is $203.73 and its 200 day moving average is $206.22. The firm has a market cap of $1.16 trillion, a PE ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. During the same period last year, the firm earned $10.96 EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom declared that its board has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.