Financial & Tax Architects LLC Acquires 155 Shares of Broadcom Inc. (NASDAQ:AVGO)

Financial & Tax Architects LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 925 shares of the semiconductor manufacturer’s stock after buying an additional 155 shares during the quarter. Financial & Tax Architects LLC’s holdings in Broadcom were worth $1,486,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Swedbank AB purchased a new stake in shares of Broadcom in the first quarter worth approximately $2,835,737,000. Vanguard Group Inc. raised its stake in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the last quarter. Capital International Investors raised its stake in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after purchasing an additional 1,006,223 shares during the last quarter. Finally, GQG Partners LLC raised its stake in shares of Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after purchasing an additional 983,328 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.9 %

NASDAQ AVGO opened at $162.47 on Wednesday. The company has a market capitalization of $756.28 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 2.55 and a beta of 1.16. The stock’s 50-day simple moving average is $157.17 and its two-hundred day simple moving average is $146.21. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. Research analysts forecast that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 9.12%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Evercore ISI increased their price objective on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Barclays increased their price target on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Wells Fargo & Company increased their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Finally, Sanford C. Bernstein raised their price target on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.