Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Prudent Man Advisors LLC

Prudent Man Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 762.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,755 shares of the semiconductor manufacturer's stock after buying an additional 12,161 shares during the period. Broadcom accounts for approximately 0.8% of Prudent Man Advisors LLC's holdings, making the stock its 19th biggest position. Prudent Man Advisors LLC's holdings in Broadcom were worth $2,373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVGO. AXA S.A. increased its stake in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. increased its stake in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC lifted its holdings 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 valued at $1,691,000 after buying an additional 8,834 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after buying an additional 71,181 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO traded up $0.25 on Thursday, reaching $163.50. 6,678,341 shares of the company's stock traded hands, compared to its average volume of 29,265,527. The stock has a 50 day moving average price of $173.78 and a 200-day moving average price of $160.09. The firm has a market cap of $763.64 billion, a price-to-earnings ratio of 142.05, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business 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 represents a $2.12 annualized dividend and a yield of 1.30%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Two 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 stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on 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 in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $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 three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is 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.