Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Raised by Marco Investment Management LLC

Marco Investment Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 904.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,085 shares of the semiconductor manufacturer's stock after buying an additional 405,261 shares during the period. Broadcom comprises 6.7% of Marco Investment Management LLC's holdings, making the stock its largest position. Marco Investment Management LLC's holdings in Broadcom were worth $77,640,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Hartford Funds Management Co LLC boosted its stake in Broadcom by 939.4% in the 3rd quarter. Hartford Funds Management Co LLC now owns 7,016 shares of the semiconductor manufacturer's stock worth $1,210,000 after purchasing an additional 6,341 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Broadcom by 909.4% during the third quarter. Summit Trail Advisors LLC now owns 666,622 shares of the semiconductor manufacturer's stock worth $114,992,000 after buying an additional 600,580 shares during the period. Cahill Financial Advisors Inc. grew its holdings in shares of Broadcom by 899.0% during the third quarter. Cahill Financial Advisors Inc. now owns 3,976 shares of the semiconductor manufacturer's stock worth $686,000 after buying an additional 3,578 shares in the last quarter. Capital Investment Counsel LLC raised its position in Broadcom by 861.7% in the 3rd quarter. Capital Investment Counsel LLC now owns 104,587 shares of the semiconductor manufacturer's stock valued at $18,041,000 after buying an additional 93,712 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Broadcom by 3,140.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,176,949 shares of the semiconductor manufacturer's stock valued at $203,024,000 after acquiring an additional 1,140,633 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. UBS Group boosted 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. Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research 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 an average price target of $195.96.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $0.08 during midday trading on Wednesday, hitting $164.74. 16,308,772 shares of the company's stock were exchanged, compared to its average volume of 19,165,998. 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 business's fifty day moving average price is $173.76 and its two-hundred day moving average price is $161.09. The company has a market cap of $769.43 billion, a price-to-earnings ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

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, beating analysts' consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.19%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on Thursday, September 19th. The stock was 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 directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

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.