One Plus One Wealth Management LLC Has $604,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

One Plus One Wealth Management LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 14.5% in the first quarter, HoldingsChannel.com reports. The firm owned 3,608 shares of the semiconductor manufacturer’s stock after selling 614 shares during the quarter. One Plus One Wealth Management LLC’s holdings in Broadcom were worth $604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly 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 three months, insiders have sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $246.95 on Friday. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The firm has a fifty day simple moving average of $203.73 and a 200 day simple moving average of $206.52. The company has a market capitalization of $1.16 trillion, a PE ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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

Broadcom announced that its board has initiated a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Redburn Atlantic initiated coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a “buy” rating and a $301.00 price objective on the stock. Bank of America upped their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday. Finally, KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $270.25.

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.