Wetzel Investment Advisors Inc. Acquires 3,683 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wetzel Investment Advisors Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 984.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,057 shares of the semiconductor manufacturer's stock after buying an additional 3,683 shares during the period. Wetzel Investment Advisors Inc.'s holdings in Broadcom were worth $700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Klingenstein Fields & Co. LP boosted its stake in Broadcom by 887.6% in the 3rd quarter. Klingenstein Fields & Co. LP now owns 710,943 shares of the semiconductor manufacturer's stock valued at $122,638,000 after buying an additional 638,956 shares in the last quarter. Vestor Capital LLC lifted its holdings in shares of Broadcom by 980.0% during the third quarter. Vestor Capital LLC now owns 398,128 shares of the semiconductor manufacturer's stock valued at $68,677,000 after acquiring an additional 361,264 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Broadcom by 2,990.0% in the 3rd quarter. Intact Investment Management Inc. now owns 27,810 shares of the semiconductor manufacturer's stock valued at $4,797,000 after purchasing an additional 26,910 shares in the last quarter. Old North State Wealth Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth about $223,000. Finally, Centennial Bank AR increased its position in shares of Broadcom by 798.5% during the 3rd quarter. Centennial Bank AR now owns 23,137 shares of the semiconductor manufacturer's stock worth $3,991,000 after purchasing an additional 20,562 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 2.4 %

NASDAQ AVGO traded up $4.33 during trading on Thursday, hitting $183.88. The stock had a trading volume of 13,179,859 shares, compared to its average volume of 29,831,672. The company's 50-day moving average price is $169.80 and its two-hundred day moving average price is $156.94. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $858.83 billion, a PE ratio of 159.90, a P/E/G ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $89.90 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the business posted $0.95 EPS. The company's quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 yield of 1.15%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is presently 184.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Oppenheimer reduced their target price on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 16th. Mizuho raised their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Buying and Selling at Broadcom

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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 0.00 % 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 worth $53,540,590 over the last quarter. 2.00% of the stock is currently owned by 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.