OneAscent Wealth Management LLC Has $701,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

OneAscent Wealth Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 899.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,066 shares of the semiconductor manufacturer's stock after purchasing an additional 3,659 shares during the period. OneAscent Wealth Management LLC's holdings in Broadcom were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lion Street Advisors LLC increased its holdings in Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock valued at $520,000 after buying an additional 6 shares in the last quarter. Optimum Investment Advisors boosted its position in Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after purchasing an additional 8 shares in the last quarter. Anderson Hoagland & Co. grew its holdings in Broadcom by 0.3% in the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock valued at $4,623,000 after purchasing an additional 9 shares during the last quarter. Wealth Group Ltd increased its position in shares of Broadcom by 6.0% in the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock valued at $283,000 after buying an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Broadcom by 1.4% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock worth $1,161,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at approximately $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 three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $1.02 on Friday, reaching $162.92. 2,064,731 shares of the company traded hands, compared to its average volume of 29,225,750. The stock has a market capitalization of $760.93 billion, a PE ratio of 142.39, a P/E/G ratio of 1.94 and a beta of 1.17. 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 company's 50 day moving average is $173.77 and its 200-day moving average is $160.37. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $12.98 billion. During the same quarter last year, the company posted $0.95 EPS. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 paid a $0.53 dividend. This is a positive change 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 1.30%. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Truist Financial raised their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Two equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.