Prospera Private Wealth LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Prospera Private Wealth LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 992.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,957 shares of the semiconductor manufacturer's stock after buying an additional 6,320 shares during the quarter. Prospera Private Wealth LLC's holdings in Broadcom were worth $1,200,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Premier Fund Managers Ltd lifted its stake in Broadcom by 358.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 64,248 shares of the semiconductor manufacturer's stock worth $11,095,000 after purchasing an additional 50,219 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Broadcom in the third quarter worth about $257,000. Avior Wealth Management LLC lifted its position in shares of Broadcom by 893.9% in the third quarter. Avior Wealth Management LLC now owns 26,119 shares of the semiconductor manufacturer's stock worth $4,506,000 after buying an additional 23,491 shares in the last quarter. Counterweight Ventures LLC boosted its stake in Broadcom by 753.4% during the third quarter. Counterweight Ventures LLC now owns 18,612 shares of the semiconductor manufacturer's stock valued at $3,211,000 after buying an additional 16,431 shares during the last quarter. Finally, New Millennium Group LLC grew its holdings in Broadcom by 731.6% during the 3rd quarter. New Millennium Group LLC now owns 36,813 shares of the semiconductor manufacturer's stock valued at $6,350,000 after buying an additional 32,386 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.2 %

Shares of Broadcom stock traded up $0.29 on Friday, hitting $164.23. 17,332,473 shares of the company traded hands, compared to its average volume of 18,615,522. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $767.05 billion, a PE ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17. The stock's 50 day moving average price is $173.70 and its 200-day moving average price is $160.62. 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 issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. Equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm 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 is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. Broadcom's dividend payout ratio (DPR) is 184.35%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. 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 report on Friday, September 6th. Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Finally, Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated 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 sale, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.