Quintet Private Bank Europe S.A. Has $3.15 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Quintet Private Bank Europe S.A. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6,240.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,260 shares of the semiconductor manufacturer's stock after acquiring an additional 17,972 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Broadcom were worth $3,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Swedbank AB lifted its holdings in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Van ECK Associates Corp boosted its position in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock valued at $2,203,837,000 after buying an additional 11,453,554 shares in the last quarter. Raymond James & Associates grew its stake in Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock worth $2,186,292,000 after buying an additional 11,347,563 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of Broadcom by 1,045.4% during the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer's stock worth $1,427,120,000 after buying an additional 7,550,878 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 0.1 %

Shares of AVGO traded down $0.17 during trading hours on Friday, reaching $183.64. The stock had a trading volume of 13,491,305 shares, compared to its average volume of 29,781,646. The firm has a 50-day moving average of $170.75 and a 200 day moving average of $157.78. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $857.71 billion, a P/E ratio of 159.55, a P/E/G ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Broadcom's revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 184.19%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, 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 completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 0.00 % 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 quarter. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report 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 report on Monday. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Two equities research 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. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Broadcom 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.