Wealth Architects LLC Buys 22,820 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealth Architects LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 882.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,405 shares of the semiconductor manufacturer's stock after purchasing an additional 22,820 shares during the quarter. Wealth Architects LLC's holdings in Broadcom were worth $4,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Castleview Partners LLC lifted its holdings in 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 purchasing an additional 134 shares during the last quarter. Delta Asset Management LLC TN lifted its holdings in shares of 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 boosted its position in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares during the period. Krane Funds Advisors LLC bought a new stake in shares of Broadcom in the third quarter valued at about $42,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Broadcom in the third quarter valued at about $45,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 10,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,171,910 shares in the company, valued at approximately $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

AVGO traded down $0.17 on Friday, reaching $183.64. The stock had a trading volume of 13,503,154 shares, compared to its average volume of 18,921,780. The firm has a 50-day moving average of $170.75 and a 200-day moving average of $157.78. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a market capitalization of $857.70 billion, a price-to-earnings ratio of 159.69, a price-to-earnings-growth ratio of 2.11 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.

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, 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The firm's revenue was up 47.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.35%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVGO shares. 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 research note on Friday, September 6th. Oppenheimer dropped their price target on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. TD Cowen raised Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Finally, StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.