Vantage Investment Partners LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Vantage Investment Partners LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 897.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,060 shares of the semiconductor manufacturer's stock after acquiring an additional 82,833 shares during the period. Broadcom accounts for 1.3% of Vantage Investment Partners LLC's holdings, making the stock its 22nd largest position. Vantage Investment Partners LLC's holdings in Broadcom were worth $15,880,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 134 shares in the last quarter. Delta Asset Management LLC TN lifted its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 17 shares in the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Broadcom during the third quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new position in Broadcom during the third quarter worth approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on AVGO. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction that occurred 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 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the company'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 sale, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This represents a 4.83 % 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. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 3.3 %

Shares of NASDAQ:AVGO traded down $5.54 on Friday, hitting $164.84. 20,700,537 shares of the company's stock were exchanged, compared to its average volume of 29,525,430. The firm's 50-day moving average is $172.29 and its 200 day moving average is $159.14. The company has a market capitalization of $769.90 billion, a PE ratio of 144.87, a P/E/G ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. Sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced 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 is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom's dividend payout ratio is 184.35%.

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.