Alpha DNA Investment Management LLC Has $1.20 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Alpha DNA Investment Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,102.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,940 shares of the semiconductor manufacturer's stock after buying an additional 6,363 shares during the quarter. Alpha DNA Investment Management LLC's holdings in Broadcom were worth $1,197,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Jennison Associates LLC lifted its stake in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Broadcom by 962.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer's stock valued at $5,519,591,000 after buying an additional 28,985,434 shares during the last quarter. Swedbank AB grew its position in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Swiss National Bank increased its stake in shares of Broadcom by 907.0% in the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer's stock worth $2,264,223,000 after buying an additional 11,822,467 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after buying an additional 11,453,554 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 18,900 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded down $0.08 on Tuesday, reaching $164.74. The company's stock had a trading volume of 16,275,694 shares, compared to its average volume of 29,227,576. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm's 50 day moving average is $173.72 and its two-hundred day moving average is $160.86. The stock has a market cap of $769.43 billion, a PE ratio of 143.99, a PEG ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.19%.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Benchmark reissued a "buy" rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Finally, Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $195.96.

About Broadcom

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.