Broadcom Inc. (NASDAQ:AVGO) Stake Lessened by Altrius Capital Management Inc

Altrius Capital Management Inc decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,285 shares of the semiconductor manufacturer’s stock after selling 38 shares during the quarter. Broadcom accounts for approximately 1.6% of Altrius Capital Management Inc’s holdings, making the stock its 26th biggest position. Altrius Capital Management Inc’s holdings in Broadcom were worth $5,453,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Broadcom during the second quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Broadcom during the 2nd quarter worth about $42,000. Activest Wealth Management lifted its holdings in shares of Broadcom by 2,450.0% during the 2nd quarter. Activest Wealth Management now owns 51 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 49 shares during the last quarter. Bank of New Hampshire grew its stake in shares of Broadcom by 27.9% in the 2nd quarter. Bank of New Hampshire now owns 55 shares of the semiconductor manufacturer’s stock valued at $48,000 after buying an additional 12 shares in the last quarter. Finally, MRP Capital Investments LLC increased its holdings in Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 21 shares during the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $7.42 on Monday, hitting $985.15. The stock had a trading volume of 444,603 shares, compared to its average volume of 2,414,258. The company has a market capitalization of $406.61 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.25 and a current ratio of 2.50. The firm’s 50 day moving average price is $868.63 and its 200-day moving average price is $840.36. Broadcom Inc. has a twelve month low of $511.11 and a twelve month high of $990.96.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, topping the consensus estimate of $10.43 by $0.11. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.07 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 37.83 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 21st were paid a $4.60 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a dividend yield of 1.87%. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a research note on Friday, September 1st. Truist Financial reaffirmed a “buy” rating and set a $995.00 target price on shares of Broadcom in a research report on Thursday, September 21st. Piper Sandler boosted their price objective on shares of Broadcom from $830.00 to $925.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,000.00 target price on shares of Broadcom in a report on Wednesday, September 20th. Finally, Needham & Company LLC raised their price target on Broadcom from $33.00 to $44.00 in a research report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $848.52.

Insider Activity at Broadcom

In related news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $858.96 per share, for a total transaction of $858,960.00. Following the completion of the transaction, the director now owns 3,510 shares of the company’s stock, valued at $3,014,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was bought 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 in the company, valued at approximately $3,014,949.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the transaction, the director now owns 9,123 shares in the company, valued at approximately $7,806,368.64. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

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.