Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 893.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,130 shares of the semiconductor manufacturer's stock after buying an additional 230,356 shares during the period. Broadcom accounts for about 1.0% of Raymond James Trust N.A.'s portfolio, making the stock its 18th largest position. Raymond James Trust N.A.'s holdings in Broadcom were worth $44,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. AXA S.A. grew its stake in Broadcom by 2.7% in the second 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 in the last quarter. Catalyst Financial Partners LLC grew its position in shares of Broadcom by 943.3% during the 3rd 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 in the last quarter. Whittier Trust Co. increased its stake in shares of Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC raised its holdings in shares of Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after acquiring an additional 8,834 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after acquiring an additional 71,181 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company'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 completion of the sale, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Benchmark reissued a "buy" rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Rosenblatt Securities lowered 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. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $195.96.

Broadcom Stock Performance

NASDAQ AVGO traded up $0.59 during mid-day trading on Monday, reaching $164.82. 26,565,076 shares of the stock were exchanged, compared to its average volume of 29,283,137. The business's 50 day moving average is $173.70 and its 200-day moving average is $160.62. 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 Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a market capitalization of $769.80 billion, a P/E ratio of 142.10, a P/E/G ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

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.