Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by GSG Advisors LLC

GSG Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,068.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,936 shares of the semiconductor manufacturer's stock after buying an additional 3,599 shares during the period. GSG Advisors LLC's holdings in Broadcom were worth $659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AXA S.A. increased its stake in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Catalyst Financial Partners LLC increased its position in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after buying an additional 18,206 shares during the period. Whittier Trust Co. lifted its stake in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after purchasing an additional 623,983 shares during the period. Summit Place Financial Advisors LLC increased its stake in shares of Broadcom by 912.6% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after acquiring an additional 8,834 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Broadcom by 913.0% during the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after purchasing an additional 71,181 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This 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 through this hyperlink. In related news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were 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 approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO traded down $2.64 during mid-day trading on Wednesday, hitting $173.58. 17,442,238 shares of the company were exchanged, compared to its average volume of 29,605,799. The stock has a market cap of $810.72 billion, a price-to-earnings ratio of 151.55, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The company has a 50 day moving average of $171.55 and a 200-day moving average of $158.53. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. 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 (NASDAQ:AVGO - Get Free Report) last issued 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. The company had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. Analysts expect that Broadcom Inc. will post 3.78 EPS 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 issued a $0.53 dividend. The ex-dividend date 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 yield of 1.22%. Broadcom's dividend payout ratio (DPR) is 184.19%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Oppenheimer cut their price target on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, Rosenblatt Securities lowered their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock 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.