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

Aviance Capital Partners LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 888.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,083 shares of the semiconductor manufacturer's stock after buying an additional 106,140 shares during the period. Broadcom makes up about 2.7% of Aviance Capital Partners LLC's portfolio, making the stock its 6th largest position. Aviance Capital Partners LLC's holdings in Broadcom were worth $20,369,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Broadcom during the third quarter worth about $42,000. Highline Wealth Partners LLC purchased a new stake in Broadcom in the third quarter valued at approximately $45,000. Finally, AlphaCentric Advisors LLC raised its position in Broadcom by 859.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock worth $45,000 after buying an additional 232 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 0.6 %

Shares of NASDAQ:AVGO traded down $1.02 on Friday, hitting $162.92. 2,064,731 shares of the company's stock were exchanged, compared to its average volume of 29,225,750. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company has a market capitalization of $760.93 billion, a PE ratio of 142.39, a P/E/G ratio of 1.94 and a beta of 1.17. The firm's 50-day moving average is $173.77 and its 200 day moving average is $160.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The company's revenue for the quarter was up 47.3% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.30%. Broadcom's dividend payout ratio is 184.19%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

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.