Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 932.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,811 shares of the semiconductor manufacturer's stock after acquiring an additional 18,796 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Broadcom were worth $3,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthPLAN Partners LLC raised its position in Broadcom by 122.6% in the first quarter. WealthPLAN Partners LLC now owns 1,202 shares of the semiconductor manufacturer's stock valued at $1,593,000 after purchasing an additional 662 shares during the period. Foyston Gordon & Payne Inc raised its holdings in Broadcom by 55.9% in the 1st quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer's stock valued at $14,884,000 after buying an additional 4,026 shares during the period. TCI Wealth Advisors Inc. lifted its position in Broadcom by 3.1% in the first quarter. TCI Wealth Advisors Inc. now owns 503 shares of the semiconductor manufacturer's stock valued at $666,000 after buying an additional 15 shares during the last quarter. Montag A & Associates Inc. boosted its stake in Broadcom by 9.2% during the first quarter. Montag A & Associates Inc. now owns 6,978 shares of the semiconductor manufacturer's stock worth $9,249,000 after buying an additional 589 shares during the period. Finally, Nixon Peabody Trust Co. increased its position in shares of Broadcom by 12.5% during the first quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer's stock valued at $16,150,000 after acquiring an additional 1,353 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of Broadcom stock traded down $0.17 on Friday, hitting $183.64. The stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The company's 50 day moving average price is $170.75 and its 200 day moving average price is $157.78. The stock has a market cap of $857.71 billion, a price-to-earnings ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. 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 quarterly earnings data 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. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. Broadcom's payout ratio is currently 184.19%.

Analysts Set New Price Targets

Several brokerages have recently commented on AVGO. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction 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 directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company's stock.

Broadcom 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.