BluePointe Capital Management LLC Has $986,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

BluePointe Capital Management LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 901.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,716 shares of the semiconductor manufacturer's stock after purchasing an additional 5,145 shares during the period. BluePointe Capital Management LLC's holdings in Broadcom were worth $986,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Delta Asset Management LLC TN grew its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Clear Point Advisors Inc. grew its position in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after acquiring an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO increased its stake in shares of Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after buying an additional 15 shares during the period. Creekmur Asset Management LLC increased its stake in shares of Broadcom by 89.7% in the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after buying an additional 35 shares during the period. Finally, Kiely Wealth Advisory Group Inc. purchased a new position in shares of Broadcom in the second quarter worth $128,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 0.5 %

Shares of AVGO stock traded up $0.83 during mid-day trading on Monday, hitting $165.67. 17,848,725 shares of the company's stock were exchanged, compared to its average volume of 29,473,676. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The stock has a 50-day simple moving average of $172.84 and a two-hundred day simple moving average of $159.35. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $773.77 billion, a price-to-earnings ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.28%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 184.19%.

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly 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 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 quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Rosenblatt Securities cut their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. 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 report on Tuesday, October 8th. Finally, William Blair started coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.