Claro Advisors LLC Purchases 41,868 Shares of Broadcom Inc. (NASDAQ:AVGO)

Claro Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,046.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,870 shares of the semiconductor manufacturer's stock after purchasing an additional 41,868 shares during the quarter. Broadcom comprises approximately 1.0% of Claro Advisors LLC's investment portfolio, making the stock its 17th largest holding. Claro Advisors LLC's holdings in Broadcom were worth $7,913,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Clear Point Advisors Inc. lifted its position in shares of Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after purchasing an additional 31 shares during the period. Indiana Trust & Investment Management CO grew its position in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after buying an additional 15 shares during the period. Creekmur Asset Management LLC grew its position in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock valued at $98,000 after buying an additional 35 shares during the period. Kiely Wealth Advisory Group Inc. bought a new position in shares of Broadcom in the second quarter worth approximately $128,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Broadcom in the second quarter worth approximately $136,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock traded down $1.87 during mid-day trading on Wednesday, reaching $163.48. 10,918,586 shares of the company's stock traded hands, compared to its average volume of 29,340,324. The firm has a market capitalization of $763.55 billion, a PE ratio of 141.31, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month 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 firm has a 50 day moving average price of $173.68 and a two-hundred day moving average price of $159.82.

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

Broadcom Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.30%. Broadcom's dividend payout ratio (DPR) is 184.35%.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Truist Financial boosted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Finally, Benchmark reaffirmed a "buy" rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company's stock.

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.