Keyes Stange & Wooten Wealth Management LLC Acquires 6,218 Shares of Broadcom Inc. (NASDAQ:AVGO)

Keyes Stange & Wooten Wealth Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 847.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,952 shares of the semiconductor manufacturer's stock after purchasing an additional 6,218 shares during the period. Broadcom makes up approximately 0.7% of Keyes Stange & Wooten Wealth Management LLC's portfolio, making the stock its 16th biggest holding. Keyes Stange & Wooten Wealth Management LLC's holdings in Broadcom were worth $1,199,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of AVGO. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC grew its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares during the period. Cedar Wealth Management LLC increased its stake in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 216 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Broadcom in the third quarter valued at $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth about $45,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Mizuho raised 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 lifted their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Finally, Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $195.96.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock traded down $0.65 during trading on Tuesday, hitting $164.17. The stock had a trading volume of 7,746,909 shares, compared to its average volume of 29,189,623. The business has a fifty day moving average of $173.72 and a two-hundred day moving average of $160.86. The firm has a market cap of $766.77 billion, a P/E ratio of 143.99, a PEG ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. 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 posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating 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 company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.95 EPS. The business's revenue for the quarter was up 47.3% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced 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 a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. Broadcom's payout ratio is currently 184.19%.

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.