Godsey & Gibb Inc. Purchases 162,366 Shares of Broadcom Inc. (NASDAQ:AVGO)

Godsey & Gibb Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 887.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 180,672 shares of the semiconductor manufacturer's stock after buying an additional 162,366 shares during the quarter. Broadcom accounts for approximately 3.0% of Godsey & Gibb Inc.'s portfolio, making the stock its 2nd biggest position. Godsey & Gibb Inc.'s holdings in Broadcom were worth $31,166,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keystone Wealth Services LLC acquired a new stake in shares of Broadcom in the first quarter valued at about $211,000. Mechanics Bank Trust Department purchased a new stake in Broadcom in the 1st quarter worth about $223,000. Retirement Planning Group LLC purchased a new stake in shares of Broadcom during the 1st quarter worth about $313,000. Inspirion Wealth Advisors LLC bought a new position in shares of Broadcom in the 1st quarter valued at approximately $232,000. Finally, New England Professional Planning Group Inc. acquired a new stake in shares of Broadcom during the 1st quarter worth approximately $265,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AVGO shares. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Benchmark reaffirmed a "buy" rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $191.54.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on 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 transaction, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were 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 approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded down $0.61 during midday trading on Tuesday, reaching $179.38. 12,053,799 shares of the company's stock were exchanged, compared to its average volume of 30,491,053. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The firm has a market cap of $834.99 billion, a price-to-earnings ratio of 7.72, a P/E/G 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 stock's 50-day simple moving average is $167.61 and its 200 day simple moving average is $153.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share. On average, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 9.12%.

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.