Consolidated Investment Group LLC Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Consolidated Investment Group LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,340 shares of the semiconductor manufacturer's stock after acquiring an additional 102,006 shares during the quarter. Broadcom comprises 2.9% of Consolidated Investment Group LLC's portfolio, making the stock its 6th largest position. Consolidated Investment Group LLC's holdings in Broadcom were worth $19,552,000 as of its most recent SEC filing.

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

Broadcom Price Performance

Shares of AVGO stock traded down $3.20 during midday trading on Thursday, reaching $170.38. 20,618,991 shares of the company were exchanged, compared to its average volume of 29,565,154. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The company has a market cap of $795.77 billion, a P/E ratio of 150.74, a PEG ratio of 2.07 and a beta of 1.17. The company's 50 day moving average price is $171.93 and its two-hundred day moving average price is $158.86. 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 (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Broadcom's revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.19%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AVGO shares. Benchmark reaffirmed a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Truist Financial upped their target price on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Finally, William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Two research 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 company's stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated 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. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by company insiders.

About Broadcom

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.