BWM Planning LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,613 shares of the semiconductor manufacturer's stock, valued at approximately $623,000.
A number of other hedge funds have also recently made changes to their positions in the company. Sarasin & Partners LLP boosted its stake in shares of Broadcom by 545.3% during the third quarter. Sarasin & Partners LLP now owns 1,145,108 shares of the semiconductor manufacturer's stock valued at $197,531,000 after purchasing an additional 967,655 shares in the last quarter. Towerpoint Wealth LLC boosted its stake in shares of Broadcom by 767.8% during the third quarter. Towerpoint Wealth LLC now owns 1,319 shares of the semiconductor manufacturer's stock valued at $228,000 after purchasing an additional 1,167 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Broadcom by 972.9% during the third quarter. Independence Bank of Kentucky now owns 13,690 shares of the semiconductor manufacturer's stock valued at $2,362,000 after purchasing an additional 12,414 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in shares of Broadcom by 823.6% during the third quarter. Franklin Street Advisors Inc. NC now owns 159,353 shares of the semiconductor manufacturer's stock valued at $27,488,000 after purchasing an additional 142,100 shares in the last quarter. Finally, Clarius Group LLC boosted its stake in shares of Broadcom by 875.2% during the third quarter. Clarius Group LLC now owns 29,306 shares of the semiconductor manufacturer's stock valued at $5,045,000 after purchasing an additional 26,301 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Broadcom 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 transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,130 shares of company stock worth $50,646,622. 2.00% of the stock is owned by corporate insiders.
Broadcom Stock Down 2.3 %
Shares of NASDAQ AVGO traded down $4.21 during midday trading on Friday, hitting $181.48. 23,047,077 shares of the stock traded hands, compared to its average volume of 30,920,781. The company has a market cap of $847.62 billion, a PE ratio of 157.67, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The business has a 50 day moving average price of $162.16 and a two-hundred day moving average price of $151.32. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. Broadcom's revenue was up 47.3% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.
Broadcom Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 annualized dividend and a yield of 1.17%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 184.19%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on Broadcom from $155.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, June 13th. Wells Fargo & Company lifted their price objective on Broadcom from $143.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 13th. Sanford C. Bernstein lifted their price objective on Broadcom from $160.00 to $195.00 and gave the stock an "outperform" rating in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $190.29.
View Our Latest Research Report on AVGO
About Broadcom
(
Free Report)
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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