Apollon Financial LLC Has $3.21 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Apollon Financial LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 918.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,589 shares of the semiconductor manufacturer's stock after buying an additional 16,763 shares during the period. Broadcom comprises approximately 0.9% of Apollon Financial LLC's holdings, making the stock its 25th largest position. Apollon Financial LLC's holdings in Broadcom were worth $3,207,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AVGO. Swedbank AB increased its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Van ECK Associates Corp increased its stake in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock worth $2,203,837,000 after purchasing an additional 11,453,554 shares during the period. Raymond James & Associates raised its stake in shares of Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock worth $14,224,520,000 after buying an additional 8,242,455 shares during the period. Finally, National Pension Service grew its stake in shares of Broadcom by 1,045.4% during the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer's stock worth $1,427,120,000 after acquiring an additional 7,550,878 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AVGO shares. Benchmark reissued a "buy" rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Finally, UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. Two 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, 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. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company's stock.

Broadcom Stock Down 3.3 %

Shares of Broadcom stock traded down $5.54 during trading on Friday, hitting $164.84. 20,836,160 shares of the stock traded hands, compared to its average volume of 29,525,910. The stock has a market cap of $769.90 billion, a P/E ratio of 143.34, a PEG ratio of 2.04 and a beta of 1.17. The company has a fifty day moving average price of $172.84 and a two-hundred day moving average price of $159.35. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during 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 company's revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom's payout ratio is presently 184.35%.

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.