Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,148.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,065 shares of the semiconductor manufacturer's stock after acquiring an additional 75,493 shares during the period. Broadcom accounts for approximately 0.9% of Fifth Third Wealth Advisors LLC's portfolio, making the stock its 15th biggest position. Fifth Third Wealth Advisors LLC's holdings in Broadcom were worth $14,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Clear Point Advisors Inc. boosted its holdings in Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after purchasing an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO grew its position in Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after acquiring an additional 15 shares during the period. Creekmur Asset Management LLC increased its stake in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after acquiring an additional 35 shares during the last quarter. Kiely Wealth Advisory Group Inc. purchased a new stake in Broadcom in the second quarter valued at $128,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $136,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.8 %

AVGO stock traded down $1.38 during trading on Friday, hitting $162.56. 2,394,678 shares of the company's stock were exchanged, compared to its average volume of 29,229,432. The business has a 50-day moving average price of $173.77 and a two-hundred day moving average price 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. The stock has a market capitalization of $759.25 billion, a price-to-earnings ratio of 142.39, a PEG ratio of 1.94 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 issued its 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the prior 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, equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current 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 a positive change 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 1.30%. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Morgan Stanley boosted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Finally, Benchmark reiterated a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on 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 transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated 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 sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

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.