Brooklyn Investment Group Purchases 24,843 Shares of Broadcom Inc. (NASDAQ:AVGO)

Brooklyn Investment Group lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 988.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,357 shares of the semiconductor manufacturer's stock after purchasing an additional 24,843 shares during the period. Broadcom comprises 1.6% of Brooklyn Investment Group's portfolio, making the stock its 9th largest position. Brooklyn Investment Group's holdings in Broadcom were worth $4,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AXA S.A. boosted its stake in shares of Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock valued at $467,334,000 after buying an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after acquiring an additional 18,206 shares during the last quarter. Whittier Trust Co. grew its holdings in Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after acquiring an additional 623,983 shares in the last quarter. Summit Place Financial Advisors LLC increased its position in shares of Broadcom by 912.6% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after purchasing an additional 8,834 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after purchasing an additional 71,181 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, Benchmark restated a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.96.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $5.07 on Thursday, hitting $159.67. The company's stock had a trading volume of 19,722,723 shares, compared to its average volume of 29,185,664. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The stock's 50-day moving average is $173.57 and its two-hundred day moving average is $161.49. 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 company has a market capitalization of $745.75 billion, a price-to-earnings ratio of 138.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the business posted $0.95 EPS. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.33%. Broadcom's dividend payout ratio (DPR) is 184.35%.

Insider Activity

In related news, 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 sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now directly owns 1,171,910 shares of the company's stock, valued at approximately $195,873,037.40. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.