Forte Capital LLC ADV raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 902.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,901 shares of the semiconductor manufacturer's stock after purchasing an additional 18,815 shares during the quarter. Forte Capital LLC ADV's holdings in Broadcom were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in AVGO. D.B. Root & Company LLC grew its position in shares of Broadcom by 2,050.8% during the 3rd quarter. D.B. Root & Company LLC now owns 5,334 shares of the semiconductor manufacturer's stock valued at $920,000 after acquiring an additional 5,086 shares during the period. M&G PLC raised its holdings in shares of Broadcom by 790.4% in the 3rd quarter. M&G PLC now owns 3,092,811 shares of the semiconductor manufacturer's stock worth $535,056,000 after purchasing an additional 2,745,447 shares during the period. Smart Portfolios LLC lifted its stake in Broadcom by 842.4% in the third quarter. Smart Portfolios LLC now owns 10,300 shares of the semiconductor manufacturer's stock valued at $1,777,000 after purchasing an additional 9,207 shares during the last quarter. Members Capital Advisors Inc. grew its holdings in Broadcom by 900.0% during the third quarter. Members Capital Advisors Inc. now owns 2,400 shares of the semiconductor manufacturer's stock valued at $414,000 after purchasing an additional 2,160 shares during the period. Finally, Spinnaker Trust increased its position in Broadcom by 1,272.2% in the third quarter. Spinnaker Trust now owns 55,548 shares of the semiconductor manufacturer's stock worth $9,582,000 after buying an additional 51,500 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Price Performance
AVGO stock traded down $0.17 during midday trading on Friday, reaching $183.64. The company had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The firm has a 50-day moving average price of $170.75 and a 200-day moving average price of $157.78. 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 company has a market capitalization of $857.70 billion, a P/E ratio of 159.69, a P/E/G ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42.
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, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm's quarterly revenue was up 47.3% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share 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 1.15%. 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 Buying and Selling
In other news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction 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 sale, the insider now owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business'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 sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on AVGO. Oppenheimer dropped their price target on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 16th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.
Check Out Our Latest Research Report on Broadcom
About Broadcom
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Free Report)
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.
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