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Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by Scott & Selber Inc.

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Scott & Selber Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 891.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,085 shares of the semiconductor manufacturer's stock after acquiring an additional 70,213 shares during the period. Broadcom accounts for approximately 4.2% of Scott & Selber Inc.'s holdings, making the stock its 4th largest position. Scott & Selber Inc.'s holdings in Broadcom were worth $13,470,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AVGO. Lion Street Advisors LLC grew its stake in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after purchasing an additional 6 shares during the last quarter. Renasant Bank lifted its holdings in Broadcom by 1.0% in the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock valued at $1,040,000 after buying an additional 8 shares during the period. Optimum Investment Advisors lifted its holdings in Broadcom by 0.6% in the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after buying an additional 8 shares during the period. Anderson Hoagland & Co. lifted 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 buying an additional 9 shares during the period. Finally, Wealth Group Ltd lifted its holdings in 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 during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock traded down $2.64 during trading hours on Wednesday, hitting $173.58. 17,433,109 shares of the company were exchanged, compared to its average volume of 29,605,758. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The stock has a market capitalization of $810.72 billion, a price-to-earnings ratio of 151.55, a P/E/G ratio of 2.07 and a beta of 1.17. 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 firm has a fifty day simple moving average of $171.55 and a 200 day simple moving average of $158.53.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The business's quarterly revenue was up 47.3% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.22%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. Oppenheimer dropped their target price 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. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Cantor Fitzgerald boosted their target price on shares of 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 increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Finally, Morgan Stanley increased their price objective 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. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

View Our Latest Analysis on AVGO

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, CEO Hock E. Tan sold 10,000 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total value of $1,671,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,171,910 shares of the company's stock, valued at $195,873,037.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Profile

(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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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