Michael & Susan Dell Foundation Has $688.28 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Michael & Susan Dell Foundation increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,990,000 shares of the semiconductor manufacturer's stock after purchasing an additional 3,591,000 shares during the period. Broadcom accounts for 49.0% of Michael & Susan Dell Foundation's portfolio, making the stock its largest holding. Michael & Susan Dell Foundation owned about 0.09% of Broadcom worth $688,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AVGO. True Wealth Design LLC lifted its holdings in Broadcom by 3,061.9% during the third quarter. True Wealth Design LLC now owns 664 shares of the semiconductor manufacturer's stock worth $115,000 after acquiring an additional 643 shares in the last quarter. Morton Community Bank raised its position in shares of Broadcom by 868.8% during the third quarter. Morton Community Bank now owns 40,642 shares of the semiconductor manufacturer's stock worth $7,011,000 after purchasing an additional 36,447 shares during the period. Cobblestone Capital Advisors LLC NY lifted its stake in Broadcom by 993.1% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,225 shares of the semiconductor manufacturer's stock valued at $901,000 after buying an additional 4,747 shares in the last quarter. Tradition Wealth Management LLC boosted its stake in Broadcom by 863.8% in the 3rd quarter. Tradition Wealth Management LLC now owns 21,715 shares of the semiconductor manufacturer's stock worth $3,746,000 after purchasing an additional 19,462 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Broadcom by 813.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,112,501 shares of the semiconductor manufacturer's stock worth $191,906,000 after buying an additional 990,713 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO traded up $2.41 during trading hours on Friday, hitting $162.08. 11,024,005 shares of the company were exchanged, compared to its average volume of 17,582,554. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a market cap of $757.01 billion, a price-to-earnings ratio of 140.82, a P/E/G ratio of 1.91 and a beta of 1.17. The firm's fifty day moving average is $173.39 and its 200 day moving average is $161.69.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The business's quarterly revenue was up 47.3% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.19%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 10,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now owns 1,171,910 shares in the company, valued at $195,873,037.40. The trade was a 0.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $195.96.

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.