J. W. Coons Advisors LLC Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

J. W. Coons Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 876.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,099 shares of the semiconductor manufacturer's stock after acquiring an additional 11,757 shares during the period. J. W. Coons Advisors LLC's holdings in Broadcom were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Castleview Partners LLC lifted its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Broadcom during the third quarter worth $42,000. Highline Wealth Partners LLC purchased a new stake in shares of Broadcom in the third quarter valued at about $45,000. Finally, AlphaCentric Advisors LLC grew its stake in shares of Broadcom by 859.3% in the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock valued at $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.

Broadcom Stock Performance

Shares of AVGO stock opened at $163.25 on Thursday. The stock's 50-day moving average is $173.78 and its two-hundred day moving average is $160.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm has a market cap of $762.47 billion, a price-to-earnings ratio of 141.96, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed 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. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value 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 represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. Finally, Benchmark restated a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. 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. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average price target of $192.79.

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.