Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by VeraBank N.A.

VeraBank N.A. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 888.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,030 shares of the semiconductor manufacturer's stock after acquiring an additional 4,521 shares during the quarter. VeraBank N.A.'s holdings in Broadcom were worth $868,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of Broadcom by 242.9% during the 1st 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 raised its stake in shares of Broadcom by 1,073.7% during the 3rd 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 shares of Broadcom during the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Broadcom during the 3rd quarter worth approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Finally, StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Trading Down 1.8 %

Broadcom stock traded down $3.20 during midday trading on Thursday, reaching $170.38. The stock had a trading volume of 20,618,991 shares, compared to its average volume of 29,565,154. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The stock has a market capitalization of $795.77 billion, a PE ratio of 150.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. 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 stock's 50-day simple moving average is $171.93 and its 200 day simple moving average is $158.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 return on equity of 30.12% and a net margin of 10.88%. The company 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 earnings per share. The firm's revenue was up 47.3% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.24%. Broadcom's dividend payout ratio (DPR) is 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.