Castle Wealth Management LLC Purchases 9,639 Shares of Broadcom Inc. (NASDAQ:AVGO)

Castle Wealth Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,115.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,503 shares of the semiconductor manufacturer's stock after purchasing an additional 9,639 shares during the period. Castle Wealth Management LLC's holdings in Broadcom were worth $1,812,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Delta Asset Management LLC TN lifted its stake in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 17 shares during the period. Clear Point Advisors Inc. boosted its position in shares of Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after buying an additional 31 shares during the period. Indiana Trust & Investment Management CO increased its stake in Broadcom by 39.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after buying an additional 15 shares during the last quarter. Creekmur Asset Management LLC raised its stake in shares of Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after purchasing an additional 35 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom in the second quarter valued at $128,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Benchmark reiterated a "buy" rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 16th. Two research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the 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 owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 0.00 % 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 valued at $53,540,590 over the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Trading Down 0.1 %

Shares of NASDAQ AVGO traded down $0.17 during trading on Friday, reaching $183.64. The stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. 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 cap of $857.71 billion, a P/E ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The business's 50-day moving average price is $170.75 and its 200-day moving average price is $157.78.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business posted $0.95 earnings per share. Broadcom's revenue was up 47.3% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. 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 1.15%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Broadcom 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.