Winthrop Advisory Group LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Winthrop Advisory Group LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,165.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,088 shares of the semiconductor manufacturer's stock after purchasing an additional 3,765 shares during the quarter. Winthrop Advisory Group LLC's holdings in Broadcom were worth $705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Lion Street Advisors LLC grew its stake in 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. Hudson Value Partners LLC raised its position in shares of 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 purchasing an additional 8 shares during the last quarter. Renasant Bank boosted its stake in Broadcom by 1.0% in the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock worth $1,040,000 after purchasing an additional 8 shares in the last quarter. Optimum Investment Advisors grew its position in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after purchasing an additional 8 shares during the last quarter. Finally, Anderson Hoagland & Co. increased 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 in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction that occurred 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 $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. Rosenblatt Securities reduced 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. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. StockNews.com lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Two investment 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. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Stock Down 3.2 %

Shares of NASDAQ:AVGO traded down $5.82 during trading hours on Monday, reaching $177.82. The stock had a trading volume of 5,887,924 shares, compared to its average volume of 29,673,500. The stock has a market capitalization of $830.52 billion, a price-to-earnings ratio of 156.04, a P/E/G ratio of 2.11 and a beta of 1.17. The firm's 50 day moving average is $170.75 and its 200-day moving average is $157.78. 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 Inc. has a 1 year low of $90.31 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.19%. Broadcom's dividend payout ratio is presently 184.35%.

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.