Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,487.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,620 shares of the semiconductor manufacturer's stock after purchasing an additional 5,266 shares during the period. Cassaday & Co Wealth Management LLC's holdings in Broadcom were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC raised its position in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the 3rd quarter worth $42,000. Highline Wealth Partners LLC bought a new position in shares of Broadcom in the 3rd quarter worth $45,000. Finally, AlphaCentric Advisors LLC grew its stake in Broadcom by 859.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock worth $45,000 after buying an additional 232 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $163.25 on Thursday. The firm has a 50 day moving average of $173.78 and a 200-day moving average of $160.09. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $762.47 billion, a price-to-earnings ratio of 141.96, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results 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. 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 the consensus estimate of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The company's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is currently 184.35%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AVGO shares. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business'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 owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last ninety days. Insiders own 2.00% of the company's stock.

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.