Nicolet Advisory Services LLC Has $1.56 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Nicolet Advisory Services LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,129.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,087 shares of the semiconductor manufacturer's stock after acquiring an additional 8,348 shares during the period. Nicolet Advisory Services LLC's holdings in Broadcom were worth $1,562,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Castleview Partners LLC increased its holdings in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares during the period. Tsfg LLC increased its stake in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 204 shares during the period. Cedar Wealth Management LLC increased its stake in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after buying an additional 216 shares during the period. Krane Funds Advisors LLC acquired a new position in Broadcom during the 3rd quarter valued at about $42,000. Finally, Highline Wealth Partners LLC acquired a new position in Broadcom during the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley raised their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating for the company. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $195.96.

Broadcom Stock Down 0.0 %

AVGO traded down $0.08 during midday trading on Tuesday, hitting $164.74. 16,292,400 shares of the company's stock traded hands, compared to its average volume of 29,227,576. The company has a market cap of $769.43 billion, a PE ratio of 143.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The stock's fifty day simple moving average is $173.76 and its 200-day simple moving average is $161.09. 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 one year low of $90.31 and a one year high of $186.42.

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, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the firm 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 fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Insider Activity

In other news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.