Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 902.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,390 shares of the semiconductor manufacturer's stock after buying an additional 122,785 shares during the quarter. Broadcom accounts for approximately 2.6% of Richard C. Young & CO. LTD.'s holdings, making the stock its 5th biggest position. Richard C. Young & CO. LTD.'s holdings in Broadcom were worth $23,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Clear Point Advisors Inc. grew its holdings in shares of Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after buying an additional 31 shares in the last quarter. Indiana Trust & Investment Management CO boosted its position in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after purchasing an additional 15 shares during the last quarter. Creekmur Asset Management LLC boosted its position in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock valued at $98,000 after purchasing an additional 35 shares during the last quarter. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom during the second quarter valued at $128,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Broadcom during the second quarter valued at $136,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AVGO shares. Rosenblatt Securities reduced 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. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Price Performance

NASDAQ AVGO traded up $0.64 during trading hours on Thursday, reaching $163.89. 14,000,211 shares of the company's stock were exchanged, compared to its average volume of 29,347,787. The stock has a market cap of $765.45 billion, a PE ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The firm has a fifty day moving average of $173.77 and a 200-day moving average of $160.37. 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 (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company earned $0.95 EPS. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom's dividend payout ratio is currently 184.19%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction 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 transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate 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.