WealthPLAN Partners LLC Buys 3,671 Shares of Broadcom Inc. (NASDAQ:AVGO)

WealthPLAN Partners LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 271.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,022 shares of the semiconductor manufacturer's stock after purchasing an additional 3,671 shares during the period. WealthPLAN Partners LLC's holdings in Broadcom were worth $866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AXA S.A. lifted its holdings in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC lifted its stake in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after acquiring an additional 18,206 shares during the period. Whittier Trust Co. boosted its holdings in Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after acquiring an additional 623,983 shares in the last quarter. Summit Place Financial Advisors LLC increased its position in Broadcom by 912.6% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after purchasing an additional 8,834 shares during the period. Finally, Signaturefd LLC raised its holdings in Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after purchasing an additional 71,181 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an "outperform" rating on the stock. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Rosenblatt Securities lowered their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the 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 completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value 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 3.24 % 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 worth $53,540,590 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded down $5.54 on Friday, hitting $164.84. The stock had a trading volume of 20,819,361 shares, compared to its average volume of 29,525,910. The business's 50-day simple moving average is $172.29 and its two-hundred day simple moving average is $159.14. The stock has a market cap of $769.90 billion, a price-to-earnings ratio of 144.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last 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, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current 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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 184.35%.

About Broadcom

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.