Catalyst Financial Partners LLC Acquires 18,206 Shares of Broadcom Inc. (NASDAQ:AVGO)

Catalyst Financial Partners LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 943.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,136 shares of the semiconductor manufacturer's stock after acquiring an additional 18,206 shares during the quarter. Broadcom accounts for about 0.7% of Catalyst Financial Partners LLC's investment portfolio, making the stock its 24th largest holding. Catalyst Financial Partners LLC's holdings in Broadcom were worth $3,473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AVGO. Swedbank AB grew its stake in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Raymond James & Associates grew its stake 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 buying an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC raised its position in Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer's stock valued at $14,224,520,000 after acquiring an additional 8,242,455 shares in the last quarter. Pathway Financial Advisers LLC raised 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 valued at $1,256,657,000 after acquiring an additional 7,280,304 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in Broadcom by 895.6% in the third quarter. New York State Teachers Retirement System now owns 4,204,567 shares of the semiconductor manufacturer's stock worth $725,288,000 after acquiring an additional 3,782,233 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO traded down $0.85 during mid-day trading on Friday, hitting $168.92. The company's stock had a trading volume of 17,847,038 shares, compared to its average volume of 19,451,634. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a fifty day moving average of $168.94 and a 200-day moving average of $156.03. The company has a market capitalization of $788.95 billion, a price-to-earnings ratio of 146.76, a P/E/G ratio of 2.73 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $86.00 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the company earned $0.95 EPS. Broadcom's revenue was up 47.3% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. Broadcom's dividend payout ratio is presently 184.19%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on AVGO. Mizuho lifted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Morgan Stanley increased their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, The Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $191.54.

Broadcom Company 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.