B. Riley Wealth Advisors Inc. Sells 8,013 Shares of Broadcom Inc. (NASDAQ:AVGO)

B. Riley Wealth Advisors Inc. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,134 shares of the semiconductor manufacturer's stock after selling 8,013 shares during the period. Broadcom makes up about 0.8% of B. Riley Wealth Advisors Inc.'s holdings, making the stock its 17th biggest position. B. Riley Wealth Advisors Inc.'s holdings in Broadcom were worth $30,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Swedbank AB bought a new stake in shares of Broadcom during the 1st quarter valued at $2,835,737,000. Vanguard Group Inc. increased its position in shares of Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock valued at $59,181,244,000 after buying an additional 1,303,462 shares during the period. Jennison Associates LLC lifted its holdings in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer's stock worth $5,488,556,000 after buying an additional 1,263,957 shares in the last quarter. Capital International Investors boosted its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer's stock valued at $26,044,294,000 after acquiring an additional 1,006,223 shares during the period. Finally, GQG Partners LLC boosted its position in shares of Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer's stock valued at $3,966,730,000 after acquiring an additional 983,328 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. Melius initiated coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a "buy" rating and a $185.00 target price on the stock. Barclays lifted their price target on Broadcom from $150.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, June 13th. Benchmark restated a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. William Blair started coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Finally, Evercore ISI upped their price objective on Broadcom from $162.00 to $201.00 and gave the stock an "outperform" rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $189.23.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now owns 34,750 shares in the company, valued at $6,064,917.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The stock was 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 of the company's stock, valued at approximately $126,754,425.60. The disclosure for this sale can be found here. Insiders sold 233,452 shares of company stock valued at $51,278,838 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 3.0 %

Shares of Broadcom stock opened at $172.69 on Monday. The firm has a market cap of $803.85 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 2.78 and a beta of 1.16. 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 Inc. has a 1 year low of $80.89 and a 1 year high of $185.16. The company has a 50-day moving average of $158.00 and a 200 day moving average of $148.25.

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, topping 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 firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company's quarterly revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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 will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 9.12%.

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.

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