River Street Advisors LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

River Street Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 951.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,228 shares of the semiconductor manufacturer's stock after purchasing an additional 16,495 shares during the period. Broadcom accounts for about 1.7% of River Street Advisors LLC's holdings, making the stock its 15th biggest holding. River Street Advisors LLC's holdings in Broadcom were worth $3,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. InterOcean Capital Group LLC lifted its position in Broadcom by 8.4% in the first quarter. InterOcean Capital Group LLC now owns 2,822 shares of the semiconductor manufacturer's stock valued at $3,740,000 after buying an additional 219 shares during the last quarter. Ossiam raised its stake in shares of Broadcom by 763.2% in the 1st quarter. Ossiam now owns 74,430 shares of the semiconductor manufacturer's stock valued at $98,650,000 after acquiring an additional 65,807 shares during the period. MQS Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at approximately $478,000. Crewe Advisors LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at approximately $1,088,000. Finally, Payden & Rygel Investment Group purchased a new stake in shares of Broadcom in the 1st quarter valued at approximately $23,208,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 18,900 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction 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 approximately $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded up $0.03 during mid-day trading on Tuesday, hitting $165.70. 8,385,072 shares of the company's stock were exchanged, compared to its average volume of 29,379,625. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm has a market capitalization of $773.91 billion, a P/E ratio of 143.68, a P/E/G ratio of 1.94 and a beta of 1.17. The business's 50 day moving average is $173.34 and its two-hundred day moving average is $159.57. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, equities analysts expect 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 represents a $2.12 dividend on an annualized basis and a yield of 1.28%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating for the company. Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $192.79.

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.