Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Delta Financial Advisors LLC

Delta Financial Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 961.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,746 shares of the semiconductor manufacturer's stock after purchasing an additional 15,169 shares during the period. Delta Financial Advisors LLC's holdings in Broadcom were worth $2,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Addison Advisors LLC increased its position in Broadcom by 873.7% during the third quarter. Addison Advisors LLC now owns 5,287 shares of the semiconductor manufacturer's stock worth $912,000 after buying an additional 4,744 shares during the period. United Capital Management of KS Inc. raised its position in Broadcom by 887.7% in the 3rd quarter. United Capital Management of KS Inc. now owns 31,548 shares of the semiconductor manufacturer's stock valued at $5,442,000 after purchasing an additional 28,354 shares during the last quarter. GDS Wealth Management boosted its stake in Broadcom by 807.6% during the 3rd quarter. GDS Wealth Management now owns 10,737 shares of the semiconductor manufacturer's stock worth $1,852,000 after purchasing an additional 9,554 shares during the period. Catalytic Wealth RIA LLC grew its position in Broadcom by 1,022.4% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 7,318 shares of the semiconductor manufacturer's stock worth $1,262,000 after purchasing an additional 6,666 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in Broadcom by 726.5% in the third quarter. Chartwell Investment Partners LLC now owns 86,199 shares of the semiconductor manufacturer's stock valued at $14,869,000 after purchasing an additional 75,769 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were 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 directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 3.4 %

AVGO stock traded down $5.84 during midday 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's 50-day moving average price is $172.29 and its 200 day moving average price is $159.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market cap of $768.50 billion, a PE ratio of 144.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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. 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 in the prior year, the firm posted $0.95 earnings per share. The business's quarterly 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 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date 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 dividend yield of 1.29%. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AVGO shares. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Finally, Truist Financial upped their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Two 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. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $192.79.

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.