Core Wealth Partners LLC Purchases 7,502 Shares of Broadcom Inc. (NASDAQ:AVGO)

Core Wealth Partners LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,123.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,170 shares of the semiconductor manufacturer's stock after buying an additional 7,502 shares during the period. Broadcom comprises approximately 0.9% of Core Wealth Partners LLC's holdings, making the stock its 27th largest holding. Core Wealth Partners LLC's holdings in Broadcom were worth $1,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Delta Asset Management LLC TN boosted its stake in shares of 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 purchasing an additional 17 shares in 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 position in Broadcom by 39.5% in the second 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 in the last quarter. Creekmur Asset Management LLC grew its stake in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after buying an additional 35 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Broadcom during the second quarter worth approximately $128,000. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Finally, StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Stock Performance

AVGO traded down $5.84 during trading on Friday, hitting $164.54. The stock had a trading volume of 12,273,836 shares, compared to its average volume of 29,487,471. The company has a 50 day moving average price of $172.29 and a 200-day moving average price of $159.14. The firm has a market cap of $768.50 billion, a price-to-earnings ratio of 144.87, a P/E/G ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter last year, the business earned $0.95 earnings per share. Broadcom's revenue was up 47.3% on a year-over-year basis. As a group, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.35%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently 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.