Valley Brook Capital Group Inc. Has $3.24 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Valley Brook Capital Group Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 919.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,755 shares of the semiconductor manufacturer's stock after buying an additional 16,915 shares during the period. Broadcom accounts for about 2.3% of Valley Brook Capital Group Inc.'s portfolio, making the stock its 9th largest holding. Valley Brook Capital Group Inc.'s holdings in Broadcom were worth $3,235,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lion Street Advisors LLC lifted its stake in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after acquiring an additional 6 shares during the period. Hudson Value Partners LLC lifted its stake in Broadcom by 2.7% during the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock valued at $408,000 after acquiring an additional 8 shares during the period. Renasant Bank lifted its stake in Broadcom by 1.0% during the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock valued at $1,040,000 after acquiring an additional 8 shares during the period. Optimum Investment Advisors lifted its stake in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after acquiring an additional 8 shares during the period. Finally, Anderson Hoagland & Co. lifted its stake in Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock valued at $4,623,000 after acquiring an additional 9 shares during the period. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. 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 research note on Friday, September 6th. Truist Financial increased 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. Benchmark reiterated a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two investment 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $192.79.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the firm's 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 completion of the transaction, the insider now directly owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. This trade represents a 0.00 % 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. In related news, insider Mark David Brazeal sold 18,900 shares of the firm's stock in a transaction 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 $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

AVGO traded down $4.73 during trading on Monday, reaching $178.91. 17,021,045 shares of the company traded hands, compared to its average volume of 29,724,547. 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 12-month low of $90.31 and a 12-month high of $186.42. The firm has a fifty day simple moving average of $170.75 and a 200 day simple moving average of $157.78. The company has a market cap of $835.61 billion, a P/E ratio of 155.44, a PEG ratio of 2.16 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the firm posted $0.95 earnings per share. Broadcom's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued 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 dividend yield of 1.18%. Broadcom's dividend payout ratio (DPR) is 184.19%.

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.