Shared Vision Wealth Group LLC Has $2.39 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Shared Vision Wealth Group LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,263 shares of the semiconductor manufacturer’s stock after selling 1,631 shares during the quarter. Broadcom comprises approximately 1.3% of Shared Vision Wealth Group LLC’s holdings, making the stock its 18th largest position. Shared Vision Wealth Group LLC’s holdings in Broadcom were worth $2,388,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter valued at approximately $30,000. Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $32,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the firm’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 828,916 shares of company stock worth $216,785,761. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 1.1%

Shares of NASDAQ:AVGO opened at $277.88 on Wednesday. The company’s 50-day moving average price is $249.82 and its two-hundred day moving average price is $219.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a one year low of $128.50 and a one year high of $283.36. The stock has a market capitalization of $1.31 trillion, a PE ratio of 104.25, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the business earned $10.96 EPS. Broadcom’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AVGO shares. Barclays lifted their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. KeyCorp increased their price objective on Broadcom from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Hsbc Global Res upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 24th. Finally, Bank of America boosted their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $292.08.

About Broadcom

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.