Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 947.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,858 shares of the semiconductor manufacturer's stock after acquiring an additional 623,983 shares during the quarter. Broadcom comprises approximately 1.6% of Whittier Trust Co.'s portfolio, making the stock its 11th largest holding. Whittier Trust Co.'s holdings in Broadcom were worth $119,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stewardship Advisors LLC acquired a new stake in Broadcom during the 3rd quarter worth $221,000. Western Financial Corp CA increased its stake in Broadcom by 1,080.4% in the third quarter. Western Financial Corp CA now owns 11,237 shares of the semiconductor manufacturer's stock valued at $1,938,000 after purchasing an additional 10,285 shares during the period. Palouse Capital Management Inc. increased its stake in Broadcom by 885.9% in the third quarter. Palouse Capital Management Inc. now owns 700 shares of the semiconductor manufacturer's stock valued at $121,000 after purchasing an additional 629 shares during the period. Carolina Wealth Advisors LLC increased its stake in Broadcom by 372.5% in the third quarter. Carolina Wealth Advisors LLC now owns 32,263 shares of the semiconductor manufacturer's stock valued at $5,565,000 after purchasing an additional 25,435 shares during the period. Finally, Northwest Investment Counselors LLC increased its stake in Broadcom by 897.3% in the third quarter. Northwest Investment Counselors LLC now owns 1,825 shares of the semiconductor manufacturer's stock valued at $315,000 after purchasing an additional 1,642 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. 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 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $5.87 on Wednesday, hitting $173.51. The company's stock had a trading volume of 19,480,046 shares, compared to its average volume of 30,438,166. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. The company has a market capitalization of $807.67 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a 50 day moving average of $167.93 and a 200-day moving average of $154.14.

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, beating 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 company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The company's revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 9.12%.

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, UBS Group dropped their price target on shares of Broadcom from $173.50 to $170.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $191.54.

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.