Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,642.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,240 shares of the semiconductor manufacturer's stock after buying an additional 254,732 shares during the period. Broadcom makes up about 1.5% of Harvest Portfolios Group Inc.'s investment portfolio, making the stock its 25th biggest position. Harvest Portfolios Group Inc.'s holdings in Broadcom were worth $46,616,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Foster & Motley Inc. grew its position in shares of Broadcom by 869.4% during the third quarter. Foster & Motley Inc. now owns 50,293 shares of the semiconductor manufacturer's stock worth $8,676,000 after purchasing an additional 45,105 shares in the last quarter. Radnor Capital Management LLC raised its position in shares of Broadcom by 900.0% during the third quarter. Radnor Capital Management LLC now owns 2,020 shares of the semiconductor manufacturer's stock valued at $348,000 after buying an additional 1,818 shares during the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in shares of Broadcom by 1,453.5% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 6,354 shares of the semiconductor manufacturer's stock worth $1,096,000 after buying an additional 5,945 shares in the last quarter. Callahan Advisors LLC grew its stake in Broadcom by 875.4% during the third quarter. Callahan Advisors LLC now owns 4,672 shares of the semiconductor manufacturer's stock valued at $806,000 after acquiring an additional 4,193 shares in the last quarter. Finally, AHL Investment Management Inc. increased its holdings in Broadcom by 900.0% in the 3rd quarter. AHL Investment Management Inc. now owns 2,460 shares of the semiconductor manufacturer's stock valued at $424,000 after acquiring an additional 2,214 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling 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 transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVGO shares. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Mizuho lifted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Trading Down 0.1 %

Shares of NASDAQ:AVGO traded down $0.17 during trading on Friday, reaching $183.64. 13,503,154 shares of the company were exchanged, compared to its average volume of 18,921,780. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $857.71 billion, a PE ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17. The business's fifty day simple moving average is $170.75 and its 200-day simple moving average is $157.78. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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. 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 period last year, the business posted $0.95 EPS. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 3.78 EPS 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 paid a $0.53 dividend. The ex-dividend date of this dividend 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 1.15%. Broadcom's dividend payout ratio 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.