Integrated Wealth Concepts LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Integrated Wealth Concepts LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 950.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,661 shares of the semiconductor manufacturer's stock after purchasing an additional 106,456 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Broadcom were worth $20,297,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lion Street Advisors LLC increased its holdings in Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after purchasing an additional 6 shares in the last quarter. Optimum Investment Advisors lifted its holdings in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after buying an additional 8 shares during the period. Canandaigua National Bank & Trust Co. lifted its holdings in Broadcom by 1.4% during the 2nd 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. Shira Ridge Wealth Management boosted its holdings in Broadcom by 6.3% in the second quarter. Shira Ridge Wealth Management now owns 170 shares of the semiconductor manufacturer's stock valued at $273,000 after acquiring an additional 10 shares during the last quarter. Finally, VanderPol Investments L.L.C. raised its holdings in Broadcom by 7.0% during the 2nd quarter. VanderPol Investments L.L.C. now owns 198 shares of the semiconductor manufacturer's stock worth $318,000 after purchasing an additional 13 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on AVGO. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Benchmark reiterated a "buy" rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $195.96.

Broadcom Stock Up 1.0 %

Shares of AVGO stock traded up $1.64 during trading hours on Tuesday, reaching $168.15. 16,984,561 shares of the company's stock were exchanged, compared to its average volume of 17,633,960. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The stock has a market cap of $785.36 billion, a PE ratio of 146.09, a PEG ratio of 1.96 and a beta of 1.13. The stock's fifty day moving average price is $173.12 and its two-hundred day moving average price is $162.12. 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 released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The company's revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is currently 184.19%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

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.