Transform Wealth LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Transform Wealth LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 829.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 172,467 shares of the semiconductor manufacturer's stock after buying an additional 153,913 shares during the quarter. Broadcom makes up about 2.0% of Transform Wealth LLC's investment portfolio, making the stock its 6th largest holding. Transform Wealth LLC's holdings in Broadcom were worth $29,751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AVGO. Swedbank AB raised its stake in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Broadcom by 826.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer's stock worth $511,258,000 after acquiring an additional 2,643,845 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer's stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its position in shares of Broadcom by 937.1% during the third quarter. Guinness Asset Management LTD now owns 1,331,971 shares of the semiconductor manufacturer's stock valued at $229,755,000 after purchasing an additional 1,203,544 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AVGO. Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday. UBS Group cut their price objective on shares of Broadcom from $173.50 to $170.00 and set a "buy" rating on the stock in a report on Monday, September 9th. StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $191.54.

Broadcom Stock Performance

Shares of AVGO stock traded up $4.71 on Thursday, reaching $181.53. The stock had a trading volume of 25,207,015 shares, compared to its average volume of 30,730,139. 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 Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The stock has a market cap of $845.00 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a 50 day simple moving average of $165.88 and a 200 day simple moving average of $152.92.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $12.98 billion. During the same period last year, the firm posted $0.95 earnings per share. The business's revenue for the quarter was up 47.3% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.17%. Broadcom's dividend payout ratio (DPR) is presently 9.12%.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Mark David Brazeal sold 20,280 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last 90 days. Company insiders own 2.00% of the company's stock.

About Broadcom

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.