Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Stonebrook Private Inc.

Stonebrook Private Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 839.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 43,458 shares of the semiconductor manufacturer's stock after acquiring an additional 38,830 shares during the period. Broadcom comprises 2.0% of Stonebrook Private Inc.'s portfolio, making the stock its 11th biggest position. Stonebrook Private Inc.'s holdings in Broadcom were worth $7,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gamco Investors INC. ET AL increased its position in shares of Broadcom by 80.5% during the first quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock worth $1,189,000 after acquiring an additional 400 shares during the period. Earnest Partners LLC increased its holdings in shares of Broadcom by 11.8% in the 1st quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer's stock valued at $276,000 after acquiring an additional 22 shares during the period. Waverly Advisors LLC raised its position in shares of Broadcom by 194.0% in the 1st quarter. Waverly Advisors LLC now owns 3,587 shares of the semiconductor manufacturer's stock worth $4,754,000 after acquiring an additional 2,367 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Broadcom during the 1st quarter worth $2,749,000. Finally, Kennedy Capital Management LLC bought a new stake in Broadcom during the first quarter valued at about $5,723,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. increased 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. Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Mizuho upped 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. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $195.96.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $0.59 during midday trading on Monday, reaching $164.82. 26,805,504 shares of the company's stock traded hands, compared to its average volume of 29,284,316. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a fifty day simple moving average of $173.70 and a two-hundred day simple moving average of $160.62. The company has a market cap of $769.80 billion, a P/E ratio of 142.10, a PEG ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.19%.

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.