Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by AlphaCore Capital LLC

AlphaCore Capital LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,001.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,955 shares of the semiconductor manufacturer's stock after purchasing an additional 8,142 shares during the period. AlphaCore Capital LLC's holdings in Broadcom were worth $1,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Clear Point Advisors Inc. lifted its stake 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% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after buying an additional 15 shares during the last quarter. Creekmur Asset Management LLC boosted its position in shares of Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after acquiring an additional 35 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Broadcom in the 2nd quarter valued at about $128,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth about $136,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO stock traded up $0.59 during trading on Monday, reaching $164.82. 26,565,076 shares of the company were exchanged, compared to its average volume of 29,283,137. The company has a market cap of $769.80 billion, a P/E ratio of 142.10, a PEG ratio of 1.93 and a beta of 1.17. 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 stock's 50 day moving average price is $173.70 and its 200 day moving average price is $160.62. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $12.98 billion. During the same period last year, the firm posted $0.95 EPS. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom's payout ratio is presently 184.19%.

Analysts Set New Price Targets

Several brokerages have commented on AVGO. Benchmark reiterated a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Two 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction 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 completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

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.