Evexia Wealth LLC Has $11.39 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Evexia Wealth LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,492 shares of the semiconductor manufacturer’s stock after selling 357 shares during the period. Broadcom accounts for approximately 4.1% of Evexia Wealth LLC’s holdings, making the stock its 6th biggest position. Evexia Wealth LLC’s holdings in Broadcom were worth $11,385,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Canton Hathaway LLC bought a new stake in shares of Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter valued at $32,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 5.0%

AVGO opened at $246.95 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.16 trillion, a PE ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The firm has a 50-day moving average price of $203.73 and a two-hundred day moving average price of $206.22.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $10.96 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an “overweight” rating in a report on Friday. UBS Group increased their price target on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a report on Friday. Citigroup reissued a “buy” rating and issued a $276.00 price target (up from $210.00) on shares of Broadcom in a report on Tuesday. Morgan Stanley increased their price target on shares of Broadcom from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Finally, Oppenheimer increased their price target on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Two analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $270.25.

Broadcom Company 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.