Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 996.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,439 shares of the semiconductor manufacturer's stock after buying an additional 56,744 shares during the quarter. Larson Financial Group LLC's holdings in Broadcom were worth $10,771,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AVGO. Kennedy Capital Management LLC acquired a new stake in Broadcom in the first quarter valued at approximately $5,723,000. Jacobs Levy Equity Management Inc. raised its position in Broadcom by 166.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer's stock worth $3,070,000 after acquiring an additional 1,446 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Broadcom in the first quarter valued at $331,000. Redwood Investment Management LLC purchased a new stake in Broadcom during the first quarter valued at about $1,015,000. Finally, Creekmur Asset Management LLC boosted its holdings in Broadcom by 89.7% in the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Benchmark reaffirmed a "buy" rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $195.96.

Broadcom Trading Down 0.0 %

Shares of AVGO traded down $0.08 during midday trading on Tuesday, hitting $164.74. 16,236,259 shares of the stock were exchanged, compared to its average volume of 29,199,652. The firm has a market cap of $769.43 billion, a P/E ratio of 143.99, a P/E/G ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a fifty day simple moving average of $173.72 and a 200 day simple moving average of $160.86.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is presently 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.