Onyx Bridge Wealth Group LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 897.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,773 shares of the semiconductor manufacturer's stock after purchasing an additional 10,593 shares during the period. Onyx Bridge Wealth Group LLC's holdings in Broadcom were worth $2,031,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Swedbank AB boosted its position in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after buying an additional 16,453,718 shares during the period. Handelsbanken Fonder AB raised its stake in shares of 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 acquiring an additional 2,643,845 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Broadcom by 3.0% in 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 stake in Broadcom by 43.9% during the 1st 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 in the last quarter. Finally, Guinness Asset Management LTD increased its holdings in Broadcom by 937.1% during the 3rd quarter. Guinness Asset Management LTD now owns 1,331,971 shares of the semiconductor manufacturer's stock worth $229,755,000 after purchasing an additional 1,203,544 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. lifted their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.54.
Check Out Our Latest Stock Report on Broadcom
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Mark David Brazeal sold 18,900 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.
Broadcom Stock Performance
AVGO traded down $1.64 during trading on Friday, hitting $179.89. The stock had a trading volume of 17,835,247 shares, compared to its average volume of 30,666,352. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The firm has a market capitalization of $837.37 billion, a P/E ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company's 50-day moving average price is $166.52 and its 200 day moving average price is $153.25.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The firm's revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.
Broadcom Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.18%. Broadcom's dividend payout ratio is presently 9.12%.
Broadcom Company Profile
(
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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