Benchmark Financial Wealth Advisors LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Benchmark Financial Wealth Advisors LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,453.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,354 shares of the semiconductor manufacturer's stock after purchasing an additional 5,945 shares during the quarter. Benchmark Financial Wealth Advisors LLC's holdings in Broadcom were worth $1,096,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WealthPLAN Partners LLC grew its stake in Broadcom by 122.6% during the 1st 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 last quarter. Foyston Gordon & Payne Inc lifted its holdings in shares of Broadcom by 55.9% during the first quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer's stock worth $14,884,000 after purchasing an additional 4,026 shares during the period. TCI Wealth Advisors Inc. boosted 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. increased its holdings in Broadcom by 9.2% in the 1st 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. raised its position in Broadcom by 12.5% during the 1st quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer's stock worth $16,150,000 after buying an additional 1,353 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO traded down $0.17 during mid-day trading 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 firm's 50 day moving average is $170.75 and its 200 day moving average is $157.78. 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 stock has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom's revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. Equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. 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 dividend on an annualized basis and a yield of 1.15%. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Benchmark reiterated a "buy" rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. Two investment 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. According to data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on 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 transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm's 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 sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,280 shares of the business's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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.