Angeles Wealth Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 378 shares of the semiconductor manufacturer’s stock, valued at approximately $328,000.
Other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Broadcom by 96,355.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 236,738,760 shares of the semiconductor manufacturer’s stock valued at $205,354,303,000 after acquiring an additional 236,493,322 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Broadcom by 1.7% in the 1st quarter. BlackRock Inc. now owns 29,844,893 shares of the semiconductor manufacturer’s stock worth $19,146,692,000 after purchasing an additional 499,945 shares in the last quarter. State Street Corp increased its position in shares of Broadcom by 5.0% during the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock valued at $10,670,149,000 after purchasing an additional 794,832 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadcom by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 7,813,688 shares of the semiconductor manufacturer’s stock valued at $5,001,948,000 after buying an additional 375,418 shares in the last quarter. Finally, Morgan Stanley lifted its position in Broadcom by 12.5% in the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after buying an additional 651,014 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors.
Insider Activity at Broadcom
In other Broadcom news, Director Check Kian Low acquired 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the transaction, the director now directly owns 15,951 shares in the company, valued at approximately $13,909,750.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Check Kian Low bought 11,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the acquisition, the director now owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $858.96 per share, for a total transaction of $858,960.00. Following the completion of the transaction, the director now directly owns 3,510 shares of the company’s stock, valued at approximately $3,014,949.60. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Broadcom Price Performance
Shares of NASDAQ AVGO opened at $977.73 on Friday. The firm has a market cap of $403.55 billion, a P/E ratio of 30.07, a PEG ratio of 1.90 and a beta of 1.11. Broadcom Inc. has a twelve month low of $511.00 and a twelve month high of $983.89. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average of $868.63 and a 200 day moving average of $838.77.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.85 billion. During the same quarter last year, the company earned $9.07 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 37.83 EPS for the current fiscal year.
Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, September 21st were issued a $4.60 dividend. This represents a $18.40 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, September 20th. Broadcom’s dividend payout ratio is currently 56.58%.
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.
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