Braun Stacey Associates Inc. Has $331,000 Stock Holdings in Broadcom Inc (NASDAQ:AVGO)

Braun Stacey Associates Inc. trimmed its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 96.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,395 shares of the semiconductor manufacturer’s stock after selling 43,998 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Broadcom were worth $331,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Busey Wealth Management increased its position in Broadcom by 1.0% during the fourth quarter. Busey Wealth Management now owns 3,148 shares of the semiconductor manufacturer’s stock worth $996,000 after acquiring an additional 32 shares during the period. IPG Investment Advisors LLC increased its position in Broadcom by 4.7% during the fourth quarter. IPG Investment Advisors LLC now owns 895 shares of the semiconductor manufacturer’s stock worth $283,000 after acquiring an additional 40 shares during the period. OLD National Bancorp IN increased its position in Broadcom by 3.3% during the first quarter. OLD National Bancorp IN now owns 1,268 shares of the semiconductor manufacturer’s stock worth $301,000 after acquiring an additional 40 shares during the period. Park Avenue Securities LLC increased its position in Broadcom by 2.5% during the first quarter. Park Avenue Securities LLC now owns 1,640 shares of the semiconductor manufacturer’s stock worth $389,000 after acquiring an additional 40 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in Broadcom by 4.8% during the first quarter. Wedge Capital Management L L P NC now owns 892 shares of the semiconductor manufacturer’s stock worth $211,000 after acquiring an additional 41 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on the stock. Daiwa Capital Markets raised shares of Broadcom from a “neutral” rating to an “outperform” rating and set a $215.00 price target on the stock in a research report on Wednesday, March 18th. Morgan Stanley raised their target price on shares of Broadcom from $333.00 to $358.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Oppenheimer initiated coverage on shares of Broadcom in a report on Tuesday, June 16th. They issued a “buy” rating and a $350.00 target price on the stock. Rosenblatt Securities raised their target price on shares of Broadcom from $350.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Deutsche Bank raised their target price on shares of Broadcom from $300.00 to $360.00 and gave the company a “buy” rating in a report on Friday, June 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $337.44.

NASDAQ:AVGO traded down $0.92 during mid-day trading on Friday, hitting $307.93. 996,699 shares of the company’s stock were exchanged, compared to its average volume of 3,060,426. The company has a 50 day simple moving average of $290.62 and a 200-day simple moving average of $285.50. The company has a current ratio of 2.15, a quick ratio of 2.01 and a debt-to-equity ratio of 1.88. Broadcom Inc has a fifty-two week low of $155.67 and a fifty-two week high of $331.58. The firm has a market capitalization of $123.46 billion, a P/E ratio of 54.89, a PEG ratio of 1.46 and a beta of 0.92.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 4th. The semiconductor manufacturer reported $5.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $5.14. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.69 billion. Broadcom had a net margin of 10.97% and a return on equity of 32.00%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.21 EPS. As a group, analysts expect that Broadcom Inc will post 17.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $3.25 dividend. The ex-dividend date is Friday, June 19th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 4.22%. Broadcom’s dividend payout ratio (DPR) is currently 74.67%.

In other news, CFO Thomas H. Krause sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $316.39, for a total value of $12,655,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $235.50, for a total transaction of $1,177,500.00. The disclosure for this sale can be found here. Insiders sold a total of 197,980 shares of company stock worth $61,436,529 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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