Bank Pictet & Cie Europe AG Buys 179,776 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bank Pictet & Cie Europe AG grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,762.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,974 shares of the semiconductor manufacturer's stock after buying an additional 179,776 shares during the period. Bank Pictet & Cie Europe AG's holdings in Broadcom were worth $32,771,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AVGO. Legend Financial Advisors Inc. raised its holdings in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 8 shares during the last quarter. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom during the 1st quarter valued at about $29,000. Delta Asset Management LLC TN increased its holdings in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 17 shares in the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $1.65 during mid-day trading on Friday, reaching $173.00. 19,962,063 shares of the company were exchanged, compared to its average volume of 30,339,803. The stock has a market capitalization of $805.29 billion, a PE ratio of 7.57, a PEG ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The company's 50 day moving average price is $168.03 and its 200 day moving average price is $154.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. Sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is presently 9.12%.

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Benchmark restated a "buy" rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. UBS Group decreased their price objective on shares of Broadcom from $173.50 to $170.00 and set a "buy" rating for the company in a research note on Monday, September 9th. Finally, Oppenheimer cut their target price on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 16th. Two equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.54.

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.