Nicola Wealth Management LTD. Makes New $18.80 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

Nicola Wealth Management LTD. bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 109,000 shares of the semiconductor manufacturer's stock, valued at approximately $18,802,000. Broadcom accounts for about 1.7% of Nicola Wealth Management LTD.'s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delta Asset Management LLC TN increased its position in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Clear Point Advisors Inc. boosted its position in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after acquiring an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO boosted its position in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after acquiring an additional 15 shares during the last quarter. Creekmur Asset Management LLC boosted its position in shares of Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after purchasing an additional 35 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. bought a new position in shares of Broadcom during the 2nd quarter worth about $128,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Benchmark restated a "buy" rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Mizuho upped 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. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Finally, TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Two 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Price Performance

Shares of AVGO stock traded up $0.65 on Monday, hitting $165.49. 10,647,095 shares of the stock traded hands, compared to its average volume of 29,441,381. 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 firm has a market cap of $772.93 billion, a price-to-earnings ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17. The firm has a 50 day simple moving average of $172.84 and a two-hundred day simple moving average of $159.35. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The company's quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.19%.

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.