Broadcom Inc. (NASDAQ:AVGO) Position Raised by Wealth Quarterback LLC

Wealth Quarterback LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 981.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,370 shares of the semiconductor manufacturer's stock after purchasing an additional 3,966 shares during the period. Wealth Quarterback LLC's holdings in Broadcom were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lion Street Advisors LLC lifted its stake in Broadcom by 1.9% during 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. Hudson Value Partners LLC increased its position in Broadcom by 2.7% in the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock valued at $408,000 after buying an additional 8 shares in the last quarter. Renasant Bank boosted its stake in Broadcom by 1.0% during the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock valued at $1,040,000 after purchasing an additional 8 shares during the last quarter. Optimum Investment Advisors boosted its stake in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock valued at $2,262,000 after purchasing an additional 8 shares during the last quarter. Finally, Anderson Hoagland & Co. boosted its stake in Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock valued at $4,623,000 after purchasing an additional 9 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on 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 transaction, the insider now owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Finally, Mizuho upped their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Stock Performance

Shares of AVGO stock traded down $2.69 during trading hours on Tuesday, hitting $176.22. The company's stock had a trading volume of 15,851,368 shares, compared to its average volume of 29,661,205. The company has a 50 day moving average of $171.08 and a 200 day moving average of $158.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The stock has a market cap of $823.05 billion, a PE ratio of 153.54, a price-to-earnings-growth ratio of 2.16 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 announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm'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 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. 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 1.20%. Broadcom's dividend payout ratio (DPR) is currently 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.