Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Great Diamond Partners LLC

Great Diamond Partners LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 771.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,397 shares of the semiconductor manufacturer's stock after buying an additional 21,599 shares during the quarter. Broadcom makes up about 1.1% of Great Diamond Partners LLC's holdings, making the stock its 23rd largest position. Great Diamond Partners LLC's holdings in Broadcom were worth $4,209,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AVGO. Swedbank AB grew its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Raymond James & Associates boosted its position in shares of Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the period. International Assets Investment Management LLC grew its stake in Broadcom by 226,130.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock worth $14,224,520,000 after buying an additional 8,242,455 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer's stock worth $1,256,657,000 after buying an additional 7,280,304 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Broadcom by 958.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,267,031 shares of the semiconductor manufacturer's stock valued at $564,183,000 after buying an additional 2,958,257 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at $70,744,366. This 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 the SEC website. In other news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 in the company, valued at $70,744,366. This 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 the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Benchmark restated a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. UBS Group dropped their price target on Broadcom from $173.50 to $170.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. Finally, Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report 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. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $191.54.

Broadcom Price Performance

AVGO traded down $0.85 on Friday, hitting $168.92. 17,847,038 shares of the company were exchanged, compared to its average volume of 30,089,531. 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 business's fifty day moving average is $168.94 and its 200 day moving average is $156.03. Broadcom Inc. has a fifty-two week low of $86.00 and a fifty-two week high of $186.42. The firm has a market capitalization of $786.30 billion, a P/E ratio of 146.89, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. Broadcom's dividend payout ratio is currently 184.35%.

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.