First Heartland Consultants Inc. Has $961,000 Position in Broadcom Inc. (NASDAQ:AVGO)

First Heartland Consultants Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 518.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,569 shares of the semiconductor manufacturer's stock after purchasing an additional 4,669 shares during the period. First Heartland Consultants Inc.'s holdings in Broadcom were worth $961,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AXA S.A. grew its position in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after buying an additional 18,206 shares during the period. Whittier Trust Co. increased its position in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after acquiring an additional 623,983 shares during the period. Summit Place Financial Advisors LLC boosted its position in Broadcom by 912.6% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after acquiring an additional 8,834 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after purchasing an additional 71,181 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 3.3 %

Shares of AVGO stock traded down $5.54 during trading on Friday, hitting $164.84. 20,836,160 shares of the company were exchanged, compared to its average volume of 29,525,910. The firm has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.34, a P/E/G ratio of 2.04 and a beta of 1.17. 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 business's 50-day simple moving average is $172.84 and its 200 day simple moving average is $159.35. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 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 business posted $0.95 EPS. The company's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared 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 represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is currently 184.35%.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company'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 value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Rosenblatt Securities cut their target price 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. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Finally, TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two investment 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 company. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average 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.