Kolinsky Wealth Management LLC Acquires 4,663 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kolinsky Wealth Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 945.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,156 shares of the semiconductor manufacturer's stock after purchasing an additional 4,663 shares during the quarter. Kolinsky Wealth Management LLC's holdings in Broadcom were worth $889,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the last quarter. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Cedar Wealth Management LLC increased its position in shares of 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. Finally, Krane Funds Advisors LLC acquired a new position in shares of Broadcom in the third quarter worth about $42,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. 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. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating for the company. Finally, Benchmark reaffirmed a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $195.96.

Broadcom Stock Up 1.5 %

AVGO stock traded up $2.41 during midday trading on Friday, reaching $162.08. The company had a trading volume of 11,024,005 shares, compared to its average volume of 29,107,898. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $757.01 billion, a P/E ratio of 140.82, a PEG ratio of 1.88 and a beta of 1.17. The company has a 50 day moving average of $173.39 and a two-hundred day moving average of $161.69.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business's quarterly revenue was up 47.3% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend 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.