Broadcom Inc (AVGO) Shares Bought by Raymond James Trust N.A.
Raymond James Trust N.A. boosted its position in Broadcom Inc (NASDAQ:AVGO) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,367 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,608 shares during the quarter. Raymond James Trust N.A.’s holdings in Broadcom were worth $3,719,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Accurate Investment Solutions Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $25,000. Ruggie Capital Group bought a new position in shares of Broadcom during the fourth quarter valued at about $25,000. AlphaOne Investment Services LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $25,000. First Financial Corp IN bought a new position in shares of Broadcom during the first quarter valued at about $30,000. Finally, Advisors Preferred LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $32,000. 86.93% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Charlie B. Kawwas sold 9,330 shares of Broadcom stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total transaction of $2,761,026.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kirsten M. Spears sold 4,000 shares of Broadcom stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $306.31, for a total transaction of $1,225,240.00. The disclosure for this sale can be found here. Insiders have sold 87,824 shares of company stock valued at $25,189,319 over the last quarter. Company insiders own 3.30% of the company’s stock.
AVGO traded down $0.63 on Monday, hitting $316.40. The company had a trading volume of 1,537,620 shares, compared to its average volume of 2,919,520. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $317.52. The firm has a market capitalization of $122.48 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.68.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.32 by $1.23. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The business had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the business posted $5.12 earnings per share. Broadcom’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Broadcom Inc will post 17.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $2.65 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.35%. Broadcom’s payout ratio is 56.29%.
ILLEGAL ACTIVITY NOTICE: “Broadcom Inc (AVGO) Shares Bought by Raymond James Trust N.A.” was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/broadcom-inc-avgo-shares-bought-by-raymond-james-trust-n-a/2964530.html.
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.
Further Reading: How to Invest in Growth Stocks
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.