Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Aviso Wealth Management

Aviso Wealth Management grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 873.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,633 shares of the semiconductor manufacturer's stock after purchasing an additional 11,335 shares during the period. Broadcom makes up about 1.2% of Aviso Wealth Management's portfolio, making the stock its 19th biggest holding. Aviso Wealth Management's holdings in Broadcom were worth $2,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. K2 Principal Fund L.P. purchased a new position in Broadcom in the 1st quarter worth $1,922,000. Canada Pension Plan Investment Board grew its position in Broadcom by 13.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 461,306 shares of the semiconductor manufacturer's stock worth $611,420,000 after purchasing an additional 54,780 shares during the period. Envoi LLC acquired a new stake in Broadcom during the 1st quarter worth about $265,000. Stonebridge Capital Advisors LLC grew its position in Broadcom by 18.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer's stock worth $300,000 after purchasing an additional 36 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in Broadcom by 80.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock worth $1,189,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In related news, 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 owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 1.3 %

AVGO opened at $163.25 on Thursday. 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's 50 day simple moving average is $173.78 and its two-hundred day simple moving average is $160.09. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The firm has a market capitalization of $762.47 billion, a price-to-earnings ratio of 141.96, a price-to-earnings-growth ratio of 1.94 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for 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 revenue was up 47.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. 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. Broadcom's payout ratio is presently 184.35%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AVGO shares. Benchmark reaffirmed a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. The Goldman Sachs Group increased 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. Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Two investment 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 company's stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $192.79.

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.