Nations Financial Group Inc. IA ADV Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Nations Financial Group Inc. IA ADV grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,062.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,210 shares of the semiconductor manufacturer's stock after buying an additional 63,257 shares during the period. Broadcom accounts for about 0.9% of Nations Financial Group Inc. IA ADV's portfolio, making the stock its 21st largest position. Nations Financial Group Inc. IA ADV's holdings in Broadcom were worth $11,939,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Forge First Asset Management Inc. acquired a new position in shares of Broadcom during the first quarter valued at about $8,808,000. M&G Plc purchased a new stake in shares of Broadcom during the first quarter valued at $588,782,000. First Foundation Advisors increased its position in shares of Broadcom by 1.1% in the 1st quarter. First Foundation Advisors now owns 6,873 shares of the semiconductor manufacturer's stock valued at $9,109,000 after acquiring an additional 78 shares during the period. Jupiter Asset Management Ltd. raised its stake in Broadcom by 34.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 10,129 shares of the semiconductor manufacturer's stock worth $13,425,000 after acquiring an additional 2,622 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its position in Broadcom by 42.7% during the 1st quarter. Nicolet Advisory Services LLC now owns 692 shares of the semiconductor manufacturer's stock worth $923,000 after acquiring an additional 207 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.8 %

Shares of AVGO opened at $170.38 on Friday. The stock has a 50 day moving average price of $171.93 and a 200 day moving average price of $158.86. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. 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 has a market capitalization of $795.77 billion, a price-to-earnings ratio of 148.03, a PEG ratio of 2.07 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 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The company's quarterly revenue was up 47.3% compared to the same quarter last year. Equities research analysts forecast 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. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was 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 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. 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. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Benchmark restated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

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.