Gilbert & Cook Inc. Purchases 7,934 Shares of Broadcom Inc. (NASDAQ:AVGO)

Gilbert & Cook Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,057.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,684 shares of the semiconductor manufacturer's stock after acquiring an additional 7,934 shares during the quarter. Gilbert & Cook Inc.'s holdings in Broadcom were worth $1,498,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MQS Management LLC acquired a new stake in shares of Broadcom during the 1st quarter worth approximately $478,000. Axxcess Wealth Management LLC raised its position in shares of Broadcom by 3.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 19,365 shares of the semiconductor manufacturer's stock worth $25,667,000 after purchasing an additional 613 shares during the period. Stamos Capital Partners L.P. raised its position in shares of Broadcom by 13.3% during the 1st quarter. Stamos Capital Partners L.P. now owns 1,280 shares of the semiconductor manufacturer's stock worth $1,697,000 after purchasing an additional 150 shares during the period. Cadence Bank grew its holdings in Broadcom by 1.2% in the 1st quarter. Cadence Bank now owns 26,650 shares of the semiconductor manufacturer's stock worth $35,322,000 after buying an additional 327 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new position in Broadcom in the 1st quarter worth approximately $1,922,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Down 1.3 %

AVGO traded down $2.10 during trading on Wednesday, reaching $163.25. 16,945,824 shares of the company's stock were exchanged, compared to its average volume of 29,367,113. The company's fifty day moving average price is $173.68 and its 200-day moving average price is $159.82. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a market capitalization of $762.47 billion, a PE ratio of 141.31, a P/E/G ratio of 1.94 and a beta of 1.17.

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, topping analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The business's quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. Broadcom's payout ratio is 184.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Benchmark reaffirmed a "buy" rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two investment 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business'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 sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. Company insiders own 2.00% of the company's stock.

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.