Brady Family Wealth LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Brady Family Wealth LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 939.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,392 shares of the semiconductor manufacturer's stock after buying an additional 41,025 shares during the period. Broadcom comprises about 2.4% of Brady Family Wealth LLC's investment portfolio, making the stock its 8th biggest position. Brady Family Wealth LLC's holdings in Broadcom were worth $7,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Swedbank AB lifted its holdings in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer's stock valued at $511,258,000 after purchasing an additional 2,643,845 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 purchasing an additional 1,303,462 shares during the period. Jennison Associates LLC grew 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 purchasing an additional 1,263,957 shares during the last quarter. Finally, Guinness Asset Management LTD increased its stake in shares of Broadcom by 937.1% in the third quarter. Guinness Asset Management LTD now owns 1,331,971 shares of the semiconductor manufacturer's stock worth $229,755,000 after buying an additional 1,203,544 shares during the period. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVGO. Benchmark reissued a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. UBS Group cut their price objective on Broadcom from $173.50 to $170.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Finally, Bank of America reissued a "buy" rating and issued a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.54.

Broadcom Stock Up 0.5 %

AVGO traded up $0.84 during trading on Wednesday, hitting $176.82. 15,272,956 shares of the company's stock traded hands, compared to its average volume of 30,757,717. The company's 50 day simple moving average is $164.36 and its two-hundred day simple moving average is $152.27. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. The stock has a market capitalization of $823.08 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 2.99 and a beta of 1.17.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is 9.12%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last ninety days. Insiders own 2.00% of the company's stock.

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.