Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 923.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,123 shares of the semiconductor manufacturer's stock after buying an additional 2,818 shares during the quarter. Beacon Financial Advisory LLC's holdings in Broadcom were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Lion Street Advisors LLC boosted its position in Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after acquiring an additional 6 shares during the last quarter. O Dell Group LLC boosted its holdings 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 worth $472,000 after purchasing an additional 8 shares during the last quarter. Hudson Value Partners LLC grew its position in shares of Broadcom by 2.7% in the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock valued at $408,000 after purchasing an additional 8 shares during the period. Renasant Bank increased its stake in 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 last quarter. Finally, Optimum Investment Advisors boosted its stake in Broadcom by 0.6% in the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after buying an additional 8 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Truist Financial lifted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, Benchmark restated a "buy" rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Stock Down 0.1 %

Shares of AVGO traded down $0.17 during trading on Friday, reaching $183.64. The company's stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The company has a market cap 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. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average of $170.75 and a two-hundred day moving average of $157.78. 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 posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm's quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS 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 paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.15%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 184.19%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 18,900 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the business's 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 directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last quarter. Insiders own 2.00% of the company's stock.

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.