Broadcom Inc. (NASDAQ:AVGO) Position Increased by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,010 shares of the semiconductor manufacturer's stock after acquiring an additional 3,609 shares during the quarter. Catalyst Private Wealth LLC's holdings in Broadcom were worth $692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Lion Street Advisors LLC grew its stake in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after buying an additional 6 shares in the last quarter. O Dell Group LLC raised its stake in shares of Broadcom by 2.3% during the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer's stock valued at $472,000 after purchasing an additional 8 shares during the period. Hudson Value Partners LLC lifted its position in shares of Broadcom by 2.7% during the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock worth $408,000 after purchasing an additional 8 shares in the last quarter. Renasant Bank boosted its stake in shares of Broadcom by 1.0% in the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock valued at $1,040,000 after purchasing an additional 8 shares during the period. Finally, Optimum Investment Advisors grew its holdings in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after purchasing an additional 8 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO traded down $0.17 during mid-day trading on Friday, hitting $183.64. The stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a 50 day simple moving average of $170.75 and a 200-day simple moving average of $157.78. The stock has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17. 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 quarterly 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 return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. Broadcom's dividend payout ratio is presently 184.19%.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were 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 $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Benchmark restated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Mizuho lifted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Truist Financial increased their target price on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Finally, William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

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.