BBR Partners LLC Buys 3,979 Shares of Broadcom Inc. (NASDAQ:AVGO)

BBR Partners LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 810.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,470 shares of the semiconductor manufacturer's stock after purchasing an additional 3,979 shares during the period. BBR Partners LLC's holdings in Broadcom were worth $771,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares during the period. Tsfg LLC raised its holdings in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares during the period. Cedar Wealth Management LLC lifted its position in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 216 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter worth $42,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Broadcom in the third quarter valued at $45,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 1.5 %

Shares of AVGO stock traded up $2.41 during mid-day trading on Friday, reaching $162.08. The stock had a trading volume of 11,024,005 shares, compared to its average volume of 29,107,898. The firm has a market capitalization of $757.01 billion, a PE ratio of 140.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The stock's 50-day moving average price is $173.39 and its two-hundred day moving average price is $161.69. 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 released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 30.12% and a net margin of 10.88%. Broadcom's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. Equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.31%. Broadcom's payout ratio is presently 184.19%.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The sale was disclosed in a filing 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 dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AVGO shares. UBS Group raised 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. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Benchmark reissued a "buy" rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $195.96.

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.