Broadcom Inc. (NASDAQ:AVGO) is Bellwether Advisors LLC's 9th Largest Position

Bellwether Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,014.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,865 shares of the semiconductor manufacturer's stock after buying an additional 81,799 shares during the quarter. Broadcom comprises approximately 3.0% of Bellwether Advisors LLC's investment portfolio, making the stock its 9th largest holding. Bellwether Advisors LLC's holdings in Broadcom were worth $15,502,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. 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. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating for the company. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Two 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. According to MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Trading Up 0.2 %

Shares of AVGO traded up $0.29 during mid-day trading on Friday, reaching $164.23. The stock had a trading volume of 17,332,473 shares, compared to its average volume of 18,615,522. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm has a market cap of $767.05 billion, a price-to-earnings ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. The business's fifty day moving average is $173.70 and its 200 day moving average is $160.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $12.98 billion. During the same quarter last year, the firm earned $0.95 EPS. The business's revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. 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 dividend payout ratio is 184.35%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

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.