Addison Advisors LLC Purchases 4,744 Shares of Broadcom Inc. (NASDAQ:AVGO)

Addison Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 873.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,287 shares of the semiconductor manufacturer's stock after buying an additional 4,744 shares during the quarter. Addison Advisors LLC's holdings in Broadcom were worth $912,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. Delta Asset Management LLC TN lifted its position in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 17 shares during the last quarter. Clear Point Advisors Inc. lifted its holdings in Broadcom by 310.0% in the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after acquiring an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO lifted its holdings in Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after acquiring an additional 15 shares during the last quarter. Creekmur Asset Management LLC boosted its stake in Broadcom by 89.7% in the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock valued at $98,000 after acquiring an additional 35 shares during the period. Finally, Kiely Wealth Advisory Group Inc. bought a new position in shares of Broadcom during the second quarter valued at approximately $128,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 3.4 %

AVGO traded down $5.84 during midday trading on Friday, hitting $164.54. 12,273,836 shares of the company's stock traded hands, compared to its average volume of 29,487,471. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market cap of $768.50 billion, a PE ratio of 144.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. The stock's fifty day simple moving average is $172.29 and its 200-day simple moving average is $159.14. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.35%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Truist Financial raised their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, Mizuho increased their price objective on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

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.