Broadcom Inc. (NASDAQ:AVGO) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,098 shares of the semiconductor manufacturer's stock after selling 8,290 shares during the quarter. NorthRock Partners LLC's holdings in Broadcom were worth $3,812,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AVGO. WealthPLAN Partners LLC increased its position in Broadcom by 122.6% during the first quarter. WealthPLAN Partners LLC now owns 1,202 shares of the semiconductor manufacturer's stock worth $1,593,000 after buying an additional 662 shares in the last quarter. Foyston Gordon & Payne Inc raised its stake in Broadcom by 55.9% in the 1st quarter. Foyston Gordon & Payne Inc now owns 11,230 shares of the semiconductor manufacturer's stock valued at $14,884,000 after purchasing an additional 4,026 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in Broadcom by 3.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 503 shares of the semiconductor manufacturer's stock valued at $666,000 after purchasing an additional 15 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of Broadcom by 9.2% during the 1st quarter. Montag A & Associates Inc. now owns 6,978 shares of the semiconductor manufacturer's stock worth $9,249,000 after purchasing an additional 589 shares during the last quarter. Finally, Nixon Peabody Trust Co. grew its holdings in shares of Broadcom by 12.5% during the first quarter. Nixon Peabody Trust Co. now owns 12,185 shares of the semiconductor manufacturer's stock worth $16,150,000 after buying an additional 1,353 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO stock traded down $0.17 during midday trading on Friday, reaching $183.64. The company had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The firm has a market capitalization of $857.71 billion, a PE ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17. The stock has a 50 day moving average price of $170.75 and a 200 day moving average price of $157.78. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. 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 (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.15%. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Benchmark reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Finally, Oppenheimer cut their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. 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. Company insiders own 2.00% of the company's stock.

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.