Altman Advisors Inc. Has $3.45 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Altman Advisors Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 895.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,017 shares of the semiconductor manufacturer's stock after purchasing an additional 18,006 shares during the period. Broadcom makes up approximately 1.5% of Altman Advisors Inc.'s portfolio, making the stock its 11th largest position. Altman Advisors Inc.'s holdings in Broadcom were worth $3,453,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AVGO. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Tsfg LLC raised its holdings in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Cedar Wealth Management LLC lifted its position in shares of Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after acquiring an additional 216 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Broadcom in the 3rd quarter valued at about $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in Broadcom during the third quarter worth approximately $45,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on 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 owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Rosenblatt Securities cut their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Mizuho raised their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Two investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Stock Performance

Broadcom stock traded up $0.29 on Friday, reaching $164.23. 17,332,473 shares of the stock were exchanged, compared to its average volume of 18,615,522. The stock has a market cap of $767.05 billion, a PE ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17. 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 Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The firm has a fifty day moving average price of $173.70 and a two-hundred day moving average price of $160.62.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is currently 184.35%.

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.