Huntleigh Advisors Inc. Sells 19,700 Shares of Broadcom Inc. (NASDAQ:AVGO)

Huntleigh Advisors Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,628 shares of the semiconductor manufacturer’s stock after selling 19,700 shares during the quarter. Broadcom makes up 2.1% of Huntleigh Advisors Inc.’s holdings, making the stock its 8th biggest position. Huntleigh Advisors Inc.’s holdings in Broadcom were worth $10,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the first quarter valued at $25,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter valued at $26,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the first quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $274.87 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The stock has a market cap of $1.29 trillion, a P/E ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. The company has a 50-day moving average price of $238.77 and a 200 day moving average price of $217.22. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same period last year, the business earned $10.96 earnings per share. Broadcom’s revenue was up 20.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s payout ratio is currently 88.39%.

Broadcom declared that its Board of Directors has authorized a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Hsbc Global Res upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 24th. Bank of America increased their price objective on shares of Broadcom from $240.00 to $300.00 and gave the company a “buy” rating in a report on Friday, June 6th. Barclays increased their price objective on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Wells Fargo & Company increased their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a report on Friday, June 6th. Finally, Susquehanna increased their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $281.46.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares of the company’s stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,716 shares of company stock valued at $221,433,761 in the last quarter. 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.