PDS Planning Inc boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 966.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,182 shares of the semiconductor manufacturer's stock after purchasing an additional 19,195 shares during the period. PDS Planning Inc's holdings in Broadcom were worth $3,654,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. World Equity Group Inc. grew its holdings in Broadcom by 787.4% during the third quarter. World Equity Group Inc. now owns 5,910 shares of the semiconductor manufacturer's stock worth $1,019,000 after acquiring an additional 5,244 shares during the period. TKG Advisors LLC boosted its holdings in Broadcom by 967.7% during the third quarter. TKG Advisors LLC now owns 25,230 shares of the semiconductor manufacturer's stock worth $4,352,000 after buying an additional 22,867 shares in the last quarter. Leeward Financial Partners LLC grew its holdings in shares of Broadcom by 1,009.8% in the 3rd quarter. Leeward Financial Partners LLC now owns 17,035 shares of the semiconductor manufacturer's stock worth $2,939,000 after acquiring an additional 15,500 shares during the last quarter. Garrison Asset Management LLC boosted its position in shares of Broadcom by 795.8% in the 3rd quarter. Garrison Asset Management LLC now owns 61,164 shares of the semiconductor manufacturer's stock valued at $10,551,000 after purchasing an additional 54,336 shares during the period. Finally, Palisades Hudson Asset Management L.P. increased its stake in Broadcom by 900.0% in the 3rd quarter. Palisades Hudson Asset Management L.P. now owns 1,270 shares of the semiconductor manufacturer's stock worth $219,000 after purchasing an additional 1,143 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Broadcom Price Performance
Shares of AVGO stock traded down $0.17 during trading hours on Friday, reaching $183.64. 13,491,305 shares of the company were exchanged, compared to its average volume of 29,781,646. 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 has a market cap of $857.71 billion, a price-to-earnings ratio of 159.55, a P/E/G ratio of 1.99 and a beta of 1.17. The stock's fifty day moving average is $170.75 and its two-hundred day moving average is $157.78. 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 issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost 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 1.15%. Broadcom's payout ratio is currently 184.19%.
Insider Buying and Selling
In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last ninety days. Insiders own 2.00% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on AVGO shares. 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. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Benchmark restated a "buy" rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Finally, Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $192.79.
Check Out Our Latest Analysis on AVGO
About Broadcom
(
Free Report)
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.
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