W.G. Shaheen & Associates DBA Whitney & Co Has $18.88 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

W.G. Shaheen & Associates DBA Whitney & Co increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 909.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,462 shares of the semiconductor manufacturer's stock after acquiring an additional 98,614 shares during the quarter. Broadcom comprises approximately 2.0% of W.G. Shaheen & Associates DBA Whitney & Co's investment portfolio, making the stock its 13th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Broadcom were worth $18,882,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Lion Street Advisors LLC boosted its stake in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after buying an additional 6 shares during the last quarter. Optimum Investment Advisors grew its stake in Broadcom by 0.6% in the second 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 in the last quarter. Anderson Hoagland & Co. increased its position in shares of Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock worth $4,623,000 after purchasing an additional 9 shares during the last quarter. Wealth Group Ltd raised its stake in shares of Broadcom by 6.0% during the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock worth $283,000 after purchasing an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its holdings in shares of Broadcom by 1.4% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock valued at $1,161,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AVGO shares. Benchmark reiterated a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. UBS Group raised 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 price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. 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 company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Broadcom Price Performance

Shares of AVGO traded down $1.38 during mid-day trading on Friday, reaching $162.56. The company had a trading volume of 2,394,678 shares, compared to its average volume of 29,229,432. The company's 50 day simple moving average is $173.77 and its 200 day simple moving average is $160.37. The company has a market capitalization of $759.25 billion, a price-to-earnings ratio of 142.39, a P/E/G ratio of 1.94 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 posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company's revenue was up 47.3% on a year-over-year basis. Analysts expect 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. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.30%. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company's stock.

Broadcom Company 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.