BIP Wealth LLC Acquires 5,263 Shares of Broadcom Inc. (NASDAQ:AVGO)

BIP Wealth LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 905.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,844 shares of the semiconductor manufacturer's stock after buying an additional 5,263 shares during the quarter. BIP Wealth LLC's holdings in Broadcom were worth $1,008,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVGO. Legacy Bridge LLC raised its position in shares of Broadcom by 926.4% in the third quarter. Legacy Bridge LLC now owns 29,735 shares of the semiconductor manufacturer's stock valued at $5,129,000 after buying an additional 26,838 shares in the last quarter. Prospera Financial Services Inc increased its stake in Broadcom by 989.0% during the 3rd quarter. Prospera Financial Services Inc now owns 226,192 shares of the semiconductor manufacturer's stock worth $39,024,000 after acquiring an additional 205,422 shares during the period. Verity & Verity LLC raised its holdings in Broadcom by 901.0% in the 3rd quarter. Verity & Verity LLC now owns 285,901 shares of the semiconductor manufacturer's stock valued at $49,318,000 after acquiring an additional 257,340 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Broadcom by 11.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 12,252 shares of the semiconductor manufacturer's stock valued at $2,113,000 after acquiring an additional 1,264 shares during the period. Finally, OneAscent Financial Services LLC grew its holdings in shares of Broadcom by 920.6% during the 3rd quarter. OneAscent Financial Services LLC now owns 2,623 shares of the semiconductor manufacturer's stock worth $452,000 after purchasing an additional 2,366 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value 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. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.8 %

Shares of AVGO traded down $1.38 during trading hours on Friday, hitting $162.56. 2,394,678 shares of the stock were exchanged, compared to its average volume of 29,229,432. The firm has a market capitalization of $759.25 billion, a P/E ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. 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 Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The business has a 50-day moving average of $173.77 and a 200-day moving average of $160.37.

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 analysts' consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The firm's revenue was up 47.3% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.19%.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted 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. Finally, UBS Group upped 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. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom currently 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.