Strengthening Families & Communities LLC Acquires 20,476 Shares of Broadcom Inc. (NASDAQ:AVGO)

Strengthening Families & Communities LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,028.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,467 shares of the semiconductor manufacturer's stock after buying an additional 20,476 shares during the quarter. Broadcom accounts for approximately 1.0% of Strengthening Families & Communities LLC's investment portfolio, making the stock its 23rd largest position. Strengthening Families & Communities LLC's holdings in Broadcom were worth $3,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. K2 Principal Fund L.P. bought a new stake in Broadcom in the first quarter valued at approximately $1,922,000. Canada Pension Plan Investment Board boosted its holdings in Broadcom by 13.5% in the first quarter. Canada Pension Plan Investment Board now owns 461,306 shares of the semiconductor manufacturer's stock valued at $611,420,000 after acquiring an additional 54,780 shares during the last quarter. Envoi LLC bought a new stake in Broadcom in the first quarter valued at approximately $265,000. Stonebridge Capital Advisors LLC boosted its holdings in shares of Broadcom by 18.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer's stock worth $300,000 after buying an additional 36 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Broadcom by 80.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock worth $1,189,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated 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 owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction dated 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 owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 1.3 %

Shares of Broadcom stock opened at $163.25 on Thursday. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm has a market cap of $762.47 billion, a PE ratio of 141.96, a P/E/G ratio of 1.94 and a beta of 1.17. The stock has a fifty day moving average price of $173.78 and a 200-day moving average price of $160.09. 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 data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.95 EPS. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.30%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.35%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

About Broadcom

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.