Colonial Trust Advisors has increased its investment in Broadcom Inc. (NASDAQ: AVGO) by 8% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now owns 9,044 shares of the semiconductor manufacturer, having acquired an additional 668 shares in this period. At the end of the quarter, Colonial Trust Advisors’ holdings in Broadcom were valued at approximately $2,493,000.
Several other hedge funds have also adjusted their stakes in Broadcom. For instance, Cheviot Value Management LLC entered a new position worth about $25,000 during the first quarter. Similarly, Sawyer & Company Inc. boosted its holdings by 62.1% in the second quarter and now owns 94 shares valued at $26,000. Longfellow Investment Management Co. LLC and Legend Financial Advisors Inc. also acquired new stakes in the company, with values around $27,000 and $28,000, respectively. Overall, institutional investors and hedge funds hold 76.43% of Broadcom’s stock.
Insider Transactions at Broadcom
In related news, Broadcom’s Director, Justine Page, sold 800 shares on November 14, 2023, at an average price of $331.14, resulting in a total transaction value of $264,912. Following this sale, Page’s ownership in the company decreased to 21,382 shares, worth approximately $7,080,435.48.
CEO Hock E. Tan also participated in selling shares, offloading 100,000 shares on September 23, 2023, at an average price of $339.58. This sale amounted to $33,958,000, reducing Tan’s direct ownership to 725,638 shares, valued at around $246,412,152.04. Over the past quarter, insiders purchased a total of 3,550 shares valued at $1,227,869, while selling 665,271 shares worth approximately $225,483,192. Insiders currently own 2.00% of the company’s stock.
Broadcom Financial Performance
As of the latest trading session, Broadcom shares opened at $397.57. The company maintains a current ratio of 1.50, a quick ratio of 1.37, and a debt-to-equity ratio of 0.86. Broadcom’s market capitalization stands at $1.88 trillion, with a price-to-earnings ratio of 101.42 and a beta of 1.19.
In its most recent quarterly earnings report released on September 4, 2023, Broadcom reported earnings of $1.69 per share, exceeding analysts’ expectations of $1.66. The company achieved revenues of $15.95 billion, surpassing estimates of $15.82 billion. This represents a 22.0% increase in revenue compared to the previous year, when the company posted an earnings per share of $1.24.
Broadcom has set its guidance for Q4 2025 at earnings per share of $5.38 for the current year, according to analysts’ predictions.
In addition to its strong financial performance, Broadcom declared a quarterly dividend of $0.59 per share, which was paid on September 30, 2023. Shareholders on record as of September 22 received this dividend, resulting in an annualized dividend of $2.36 and a yield of 0.6%. The company’s dividend payout ratio is currently 60.20%.
Broadcom Inc. designs and supplies a range of semiconductor devices, focusing on digital and mixed-signal complementary metal oxide semiconductor (CMOS) products, as well as analog III-V based devices globally. The company operates in two segments: Semiconductor Solutions and Infrastructure Software.
