Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 874.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 252,597 shares of the semiconductor manufacturer's stock after acquiring an additional 226,674 shares during the quarter. Broadcom accounts for about 3.2% of Valley Wealth Managers Inc.'s holdings, making the stock its 3rd biggest holding. Valley Wealth Managers Inc.'s holdings in Broadcom were worth $43,573,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Archer Investment Corp grew its position in Broadcom by 729.2% during the 3rd quarter. Archer Investment Corp now owns 16,865 shares of the semiconductor manufacturer's stock worth $2,909,000 after acquiring an additional 14,831 shares during the last quarter. Birchcreek Wealth Management LLC grew its holdings in shares of Broadcom by 850.3% in the third quarter. Birchcreek Wealth Management LLC now owns 1,378 shares of the semiconductor manufacturer's stock worth $238,000 after purchasing an additional 1,233 shares during the last quarter. Empowered Funds LLC raised its holdings in Broadcom by 916.3% during the 3rd quarter. Empowered Funds LLC now owns 185,724 shares of the semiconductor manufacturer's stock valued at $32,037,000 after buying an additional 167,450 shares during the last quarter. Empirical Finance LLC boosted its position in Broadcom by 924.0% during the 3rd quarter. Empirical Finance LLC now owns 142,792 shares of the semiconductor manufacturer's stock valued at $24,632,000 after buying an additional 128,847 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in Broadcom by 821.0% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 78,646 shares of the semiconductor manufacturer's stock worth $13,566,000 after acquiring an additional 70,107 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 0.2 %

NASDAQ AVGO traded down $0.32 during mid-day trading on Tuesday, reaching $165.35. The stock had a trading volume of 17,058,496 shares, compared to its average volume of 29,417,238. The company has a fifty day moving average price of $173.68 and a 200 day moving average price of $159.82. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The stock has a market cap of $772.28 billion, a PE ratio of 143.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The company's revenue was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction that occurred 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 owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of 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. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AVGO. Benchmark reiterated a "buy" rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Rosenblatt Securities cut their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Finally, UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

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.