Broadcom Inc. (NASDAQ:AVGO) is Heritage Investors Management Corp's 3rd Largest Position

Heritage Investors Management Corp increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 891.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 608,004 shares of the semiconductor manufacturer's stock after buying an additional 546,702 shares during the period. Broadcom accounts for approximately 3.5% of Heritage Investors Management Corp's investment portfolio, making the stock its 3rd biggest holding. Heritage Investors Management Corp's holdings in Broadcom were worth $104,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Delta Asset Management LLC TN lifted its holdings in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 17 shares during the period. Clear Point Advisors Inc. boosted its stake in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after buying an additional 31 shares during the period. Indiana Trust & Investment Management CO grew its position in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after buying an additional 15 shares in the last quarter. Creekmur Asset Management LLC increased its stake in Broadcom by 89.7% in the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after acquiring an additional 35 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom in the 2nd quarter valued at about $128,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business'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 transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Mark David Brazeal sold 20,280 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the business's 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 owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Trading Down 0.1 %

Shares of NASDAQ AVGO traded down $0.17 during midday trading on Friday, hitting $183.64. The company's stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The firm has a market cap of $857.71 billion, a P/E ratio of 159.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The business's 50 day moving average is $170.75 and its two-hundred day moving average is $157.78. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

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, 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 for the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the business earned $0.95 EPS. The firm's quarterly revenue was up 47.3% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current 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 paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. Broadcom's dividend payout ratio (DPR) is 184.19%.

About Broadcom

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.