Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,193.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,823 shares of the semiconductor manufacturer's stock after purchasing an additional 13,677 shares during the quarter. Circle Wealth Management LLC's holdings in Broadcom were worth $2,557,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AVGO. White Knight Strategic Wealth Advisors LLC boosted its position in Broadcom by 900.0% during the third quarter. White Knight Strategic Wealth Advisors LLC now owns 3,820 shares of the semiconductor manufacturer's stock worth $659,000 after acquiring an additional 3,438 shares during the last quarter. Fred Alger Management LLC raised its stake in Broadcom by 1,254.3% during the third quarter. Fred Alger Management LLC now owns 3,059,770 shares of the semiconductor manufacturer's stock worth $527,810,000 after purchasing an additional 2,833,832 shares during the period. Captrust Financial Advisors raised its stake in Broadcom by 903.0% during the third quarter. Captrust Financial Advisors now owns 1,025,690 shares of the semiconductor manufacturer's stock worth $176,932,000 after purchasing an additional 923,426 shares during the period. Atlantic Union Bankshares Corp raised its stake in Broadcom by 896.8% during the third quarter. Atlantic Union Bankshares Corp now owns 160,706 shares of the semiconductor manufacturer's stock worth $27,722,000 after purchasing an additional 144,584 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Broadcom by 858.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,599,462 shares of the semiconductor manufacturer's stock valued at $456,095,000 after acquiring an additional 2,328,367 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Rosenblatt Securities dropped their target price 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. The Goldman Sachs Group lifted their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $195.96.

Broadcom Price Performance

Shares of AVGO traded up $2.41 during mid-day trading on Friday, hitting $162.08. The company's stock had a trading volume of 11,024,005 shares, compared to its average volume of 29,107,898. 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 firm has a 50-day simple moving average of $173.39 and a 200 day simple moving average of $161.69. The firm has a market capitalization of $757.01 billion, a P/E ratio of 140.82, a P/E/G ratio of 1.88 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during 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 company's quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend 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 yield of 1.31%. Broadcom's payout ratio is currently 184.19%.

Insider Buying and Selling

In other Broadcom 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 transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

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.