Callahan Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 875.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,672 shares of the semiconductor manufacturer's stock after acquiring an additional 4,193 shares during the period. Callahan Advisors LLC's holdings in Broadcom were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WealthPLAN Partners LLC grew its holdings in Broadcom by 122.6% in the first quarter. WealthPLAN Partners LLC now owns 1,202 shares of the semiconductor manufacturer's stock worth $1,593,000 after purchasing an additional 662 shares during the period. Foyston Gordon & Payne Inc boosted its position in shares of Broadcom by 55.9% during the 1st quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer's stock worth $14,884,000 after purchasing an additional 4,026 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of Broadcom by 3.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 503 shares of the semiconductor manufacturer's stock valued at $666,000 after buying an additional 15 shares during the period. Montag A & Associates Inc. increased its position in Broadcom by 9.2% in the 1st quarter. Montag A & Associates Inc. now owns 6,978 shares of the semiconductor manufacturer's stock valued at $9,249,000 after buying an additional 589 shares in the last quarter. Finally, Nixon Peabody Trust Co. boosted its holdings in Broadcom by 12.5% in the first quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer's stock worth $16,150,000 after acquiring an additional 1,353 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Broadcom Stock Performance
NASDAQ AVGO traded down $0.17 on Friday, hitting $183.64. 13,503,154 shares of the stock traded hands, compared to its average volume of 18,921,780. The firm has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. The business's fifty day moving average is $170.75 and its two-hundred day moving average is $157.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.15%. Broadcom's dividend payout ratio (DPR) is 184.19%.
Insider Activity at Broadcom
In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm'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 transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at $70,744,366. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.
Wall Street Analysts Forecast Growth
AVGO has been the topic of a number of research reports. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Rosenblatt Securities reduced their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Finally, Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's 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.
Check Out Our Latest Report on Broadcom
About Broadcom
(
Free Report)
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.
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