Catalina Capital Group LLC Purchases 17,867 Shares of Broadcom Inc. (NASDAQ:AVGO)

Catalina Capital Group LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 979.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,691 shares of the semiconductor manufacturer's stock after buying an additional 17,867 shares during the period. Broadcom accounts for 1.1% of Catalina Capital Group LLC's holdings, making the stock its 19th biggest holding. Catalina Capital Group LLC's holdings in Broadcom were worth $3,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. WealthPLAN Partners LLC lifted its stake in shares of Broadcom by 122.6% in the 1st quarter. WealthPLAN Partners LLC now owns 1,202 shares of the semiconductor manufacturer's stock valued at $1,593,000 after purchasing an additional 662 shares during the period. Foyston Gordon & Payne Inc lifted its position in shares of Broadcom by 55.9% during the 1st quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer's stock valued at $14,884,000 after acquiring an additional 4,026 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of Broadcom by 3.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 503 shares of the semiconductor manufacturer's stock valued at $666,000 after acquiring an additional 15 shares during the period. Montag A & Associates Inc. boosted its stake in Broadcom by 9.2% during the first quarter. Montag A & Associates Inc. now owns 6,978 shares of the semiconductor manufacturer's stock worth $9,249,000 after acquiring an additional 589 shares in the last quarter. Finally, Nixon Peabody Trust Co. grew its holdings in Broadcom by 12.5% in the first quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer's stock worth $16,150,000 after purchasing an additional 1,353 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVGO. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $0.17 during midday trading on Friday, reaching $183.64. The company had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The stock has a market cap of $857.71 billion, a P/E ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17. The company's 50 day moving average price is $170.75 and its 200 day moving average price is $157.78. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company's quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 50,000 shares of the company's 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 approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Company 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.