Independent Solutions Wealth Management LLC Has $8.48 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Independent Solutions Wealth Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 846.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,136 shares of the semiconductor manufacturer's stock after acquiring an additional 43,947 shares during the quarter. Broadcom accounts for 1.9% of Independent Solutions Wealth Management LLC's portfolio, making the stock its 14th largest position. Independent Solutions Wealth Management LLC's holdings in Broadcom were worth $8,476,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. State Street Corp increased its holdings in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC increased its stake in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC increased its stake in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC raised its position in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after buying an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after acquiring an additional 30,674,902 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 242,420 shares of company stock valued at $42,701,286 in the last three months. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 2.4 %

Shares of AVGO traded down $5.30 during trading hours on Thursday, reaching $218.32. The company's stock had a trading volume of 40,493,063 shares, compared to its average volume of 30,106,924. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 189.68, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $178.71 and a two-hundred day moving average of $167.05. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business posted $0.98 EPS. The company's revenue for the quarter was up 51.2% on a year-over-year basis. As a group, research analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a $0.59 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, December 23rd. Broadcom's dividend payout ratio is presently 191.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVGO shares. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Rosenblatt Securities reiterated a "buy" rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised their price objective on shares of Broadcom from $180.00 to $233.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $220.54.

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.