Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Supplemental Annuity Collective Trust of NJ

Supplemental Annuity Collective Trust of NJ boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 780.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,400 shares of the semiconductor manufacturer's stock after purchasing an additional 21,630 shares during the period. Broadcom comprises 1.2% of Supplemental Annuity Collective Trust of NJ's portfolio, making the stock its 12th biggest holding. Supplemental Annuity Collective Trust of NJ's holdings in Broadcom were worth $4,209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Broadcom by 11.8% during the first quarter. Brighton Jones LLC now owns 2,347 shares of the semiconductor manufacturer's stock worth $3,111,000 after purchasing an additional 247 shares in the last quarter. Forum Financial Management LP lifted its position in Broadcom by 0.8% during the 1st quarter. Forum Financial Management LP now owns 3,046 shares of the semiconductor manufacturer's stock worth $4,037,000 after buying an additional 24 shares in the last quarter. GM Advisory Group LLC lifted its position in Broadcom by 7.2% during the 1st quarter. GM Advisory Group LLC now owns 4,068 shares of the semiconductor manufacturer's stock worth $5,392,000 after buying an additional 273 shares in the last quarter. Wintrust Investments LLC lifted its position in Broadcom by 2.4% during the 1st quarter. Wintrust Investments LLC now owns 6,467 shares of the semiconductor manufacturer's stock worth $8,571,000 after buying an additional 154 shares in the last quarter. Finally, Banco Santander S.A. increased its stake in shares of Broadcom by 10.8% during the 1st quarter. Banco Santander S.A. now owns 23,278 shares of the semiconductor manufacturer's stock worth $30,853,000 after purchasing an additional 2,278 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target 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. Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, UBS Group upped their price target 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. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO stock traded down $3.20 during trading on Thursday, reaching $170.38. The stock had a trading volume of 20,618,991 shares, compared to its average volume of 29,565,154. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The stock's 50 day moving average is $171.93 and its two-hundred day moving average is $158.86. 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 firm has a market cap of $795.77 billion, a PE ratio of 150.74, a PEG ratio of 2.07 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate 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 return on equity of 30.12% and a net margin of 10.88%. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 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.