Heritage Investment Group Inc. Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Heritage Investment Group Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3,178.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,671 shares of the semiconductor manufacturer's stock after purchasing an additional 5,498 shares during the period. Heritage Investment Group Inc.'s holdings in Broadcom were worth $978,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 134 shares during the period. Tsfg LLC grew its holdings 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 purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Broadcom in the third quarter worth about $42,000. Highline Wealth Partners LLC purchased a new position in shares of Broadcom during the third quarter valued at approximately $45,000. Finally, AlphaCentric Advisors LLC grew its stake in shares of Broadcom by 859.3% during the third quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVGO shares. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Mizuho lifted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. 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. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO traded up $0.03 on Tuesday, hitting $165.70. 8,385,072 shares of the company's stock traded hands, compared to its average volume of 29,379,625. The firm has a market capitalization of $773.91 billion, a PE ratio of 143.68, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The firm's 50-day moving average price is $173.34 and its two-hundred day moving average price is $159.57. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period last year, the business earned $0.95 earnings per share. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 3.78 EPS for the current 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 given a dividend of $0.53 per share. 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 1.28%. Broadcom's dividend payout ratio (DPR) is 184.35%.

About Broadcom

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.