Olistico Wealth LLC Has $1.80 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Olistico Wealth LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,766 shares of the semiconductor manufacturer’s stock after buying an additional 688 shares during the period. Broadcom makes up about 1.1% of Olistico Wealth LLC’s investment portfolio, making the stock its 18th largest position. Olistico Wealth LLC’s holdings in Broadcom were worth $1,803,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $30,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $32,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the first quarter worth $25,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVGO shares. JPMorgan Chase & Co. boosted 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, June 6th. Citigroup upped their target price on shares of Broadcom from $276.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Oppenheimer increased their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. UBS Group lifted their price objective on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, Benchmark increased their target price on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $281.46.

Broadcom Stock Performance

Broadcom stock opened at $274.87 on Friday. The stock has a 50-day simple moving average of $238.77 and a 200 day simple moving average of $217.17. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.95, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71.

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. 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 quarter last year, the company posted $10.96 EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom declared that its board has initiated a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Mark David Brazeal sold 50,000 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company’s stock, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by company insiders.

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.