Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 932.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 187,592 shares of the semiconductor manufacturer's stock after acquiring an additional 169,414 shares during the quarter. Broadcom accounts for approximately 1.2% of Independent Advisor Alliance's investment portfolio, making the stock its 16th biggest holding. Independent Advisor Alliance's holdings in Broadcom were worth $32,360,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lion Street Advisors LLC increased its holdings in Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after buying an additional 6 shares during the period. Optimum Investment Advisors lifted its position in Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after acquiring an additional 8 shares during the last quarter. Anderson Hoagland & Co. boosted its position in shares of Broadcom by 0.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock worth $4,623,000 after purchasing an additional 9 shares in the last quarter. Wealth Group Ltd increased its holdings in shares of Broadcom by 6.0% during the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock valued at $283,000 after acquiring an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of Broadcom by 1.4% during the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock worth $1,161,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction dated Friday, October 11th. The stock was 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 directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of several research reports. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $195.96.

Broadcom Trading Down 3.1 %

Shares of AVGO stock traded down $5.07 on Wednesday, hitting $159.67. The stock had a trading volume of 19,695,362 shares, compared to its average volume of 19,165,998. The company's 50 day moving average price is $173.76 and its 200-day moving average price is $161.09. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm has a market capitalization of $745.75 billion, a P/E ratio of 143.13, a P/E/G ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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. The business had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.33%. Broadcom's payout ratio is currently 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.