Crestwood Advisors Group LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Crestwood Advisors Group LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 935.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 166,000 shares of the semiconductor manufacturer's stock after purchasing an additional 149,963 shares during the quarter. Crestwood Advisors Group LLC's holdings in Broadcom were worth $28,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Castleview Partners LLC raised its holdings in shares of Broadcom by 1,030.8% during 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. Delta Asset Management LLC TN raised 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 valued at $32,000 after purchasing an additional 17 shares in the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Broadcom in the 3rd quarter worth $42,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Broadcom during the 3rd quarter valued at about $45,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were 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 $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.1 %

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

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm's quarterly revenue was up 47.3% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed 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 of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. Broadcom's payout ratio is 184.19%.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Benchmark restated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Finally, Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $192.79.

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.