Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 871.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,169 shares of the semiconductor manufacturer's stock after purchasing an additional 52,181 shares during the period. Broadcom makes up approximately 3.3% of Horan Capital Advisors LLC.'s investment portfolio, making the stock its 6th biggest position. Horan Capital Advisors LLC.'s holdings in Broadcom were worth $10,034,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Castleview Partners LLC grew its position in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC boosted its holdings in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Broadcom during the 3rd quarter valued at approximately $42,000. Highline Wealth Partners LLC bought a new stake in Broadcom in the third quarter worth $45,000. Finally, AlphaCentric Advisors LLC boosted its stake in Broadcom by 859.3% during the third quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock worth $45,000 after buying an additional 232 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom 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 transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 4.73 % 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 over the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.2 %

AVGO traded up $0.29 during trading on Friday, hitting $164.23. The stock had a trading volume of 17,332,473 shares, compared to its average volume of 18,615,522. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The stock has a 50 day simple moving average of $173.70 and a two-hundred day simple moving average of $160.62. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $767.05 billion, a PE ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17.

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, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. On average, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend 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 1.29%. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AVGO shares. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price target 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. Finally, Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.