5,778 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,778 shares of the semiconductor manufacturer's stock, valued at approximately $997,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. AXA S.A. grew its position in shares of Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock valued at $467,334,000 after buying an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC boosted 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 valued at $3,473,000 after acquiring an additional 18,206 shares during the period. Whittier Trust Co. grew its holdings in shares of Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after purchasing an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC raised its position in shares of Broadcom by 912.6% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock worth $1,691,000 after purchasing an additional 8,834 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Down 0.8 %

AVGO stock traded down $1.38 during mid-day trading on Friday, reaching $162.56. 2,394,678 shares of the stock traded hands, compared to its average volume of 29,229,432. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The stock's fifty day moving average is $173.77 and its 200-day moving average is $160.37. The company has a market cap of $759.25 billion, a P/E ratio of 142.39, a P/E/G ratio of 1.94 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 posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. The company's revenue was up 47.3% on a year-over-year basis. As a group, sell-side analysts expect 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. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVGO. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Finally, The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $192.79.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 18,900 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company's stock.

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.