Evolution Wealth Advisors LLC Purchases 3,469 Shares of Broadcom Inc. (NASDAQ:AVGO)

Evolution Wealth Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,252.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,623 shares of the semiconductor manufacturer's stock after buying an additional 3,469 shares during the quarter. Evolution Wealth Advisors LLC's holdings in Broadcom were worth $625,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Broadcom by 880.9% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 137,819 shares of the semiconductor manufacturer's stock worth $23,774,000 after acquiring an additional 123,769 shares during the period. Kentucky Retirement Systems lifted its stake in shares of Broadcom by 887.9% during the third quarter. Kentucky Retirement Systems now owns 324,285 shares of the semiconductor manufacturer's stock valued at $55,939,000 after buying an additional 291,459 shares during the period. Ipswich Investment Management Co. Inc. grew its position in shares of Broadcom by 1,037.6% in the third quarter. Ipswich Investment Management Co. Inc. now owns 4,960 shares of the semiconductor manufacturer's stock valued at $856,000 after purchasing an additional 4,524 shares during the period. Nicollet Investment Management Inc. boosted its position in shares of Broadcom by 900.0% in the third quarter. Nicollet Investment Management Inc. now owns 1,910 shares of the semiconductor manufacturer's stock worth $329,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Broadcom in the 3rd quarter worth $207,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.4 %

Shares of NASDAQ AVGO traded down $0.70 during mid-day trading on Tuesday, reaching $164.97. 7,100,828 shares of the company's stock traded hands, compared to its average volume of 29,373,893. The business has a 50-day simple moving average of $173.34 and a 200 day simple moving average of $159.57. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The stock has a market cap of $770.50 billion, a P/E ratio of 143.68, a PEG ratio of 1.94 and a beta of 1.17. 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 announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 business 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 company earned $0.95 earnings per share. Broadcom's revenue was up 47.3% compared to the same quarter last year. On average, analysts expect 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. 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. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Truist Financial upped their price target 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. Finally, Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.