Itau Unibanco Holding S.A. Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Itau Unibanco Holding S.A. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 681.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,936 shares of the semiconductor manufacturer's stock after acquiring an additional 88,017 shares during the period. Itau Unibanco Holding S.A.'s holdings in Broadcom were worth $17,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Apella Capital LLC raised its position in shares of Broadcom by 16.0% in the 2nd quarter. Apella Capital LLC now owns 282 shares of the semiconductor manufacturer's stock worth $489,000 after purchasing an additional 39 shares during the last quarter. Thomasville National Bank grew its stake in Broadcom by 13.0% during the second quarter. Thomasville National Bank now owns 208 shares of the semiconductor manufacturer's stock valued at $334,000 after acquiring an additional 24 shares in the last quarter. Matrix Trust Co lifted its position in Broadcom by 3.0% during the second quarter. Matrix Trust Co now owns 1,866 shares of the semiconductor manufacturer's stock valued at $2,996,000 after purchasing an additional 55 shares during the last quarter. Greenfield Savings Bank bought a new position in Broadcom during the second quarter valued at $234,000. Finally, MPS Loria Financial Planners LLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $263,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AVGO shares. The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Finally, UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $195.96.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock traded up $1.64 during trading hours on Tuesday, reaching $168.15. 16,984,561 shares of the stock were exchanged, compared to its average volume of 17,633,960. The company has a market cap of $785.36 billion, a P/E ratio of 146.09, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. 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 stock has a 50 day moving average of $173.12 and a two-hundred day moving average of $162.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $13.07 billion during 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 was up 47.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. Equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 184.19%.

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.