Woodmont Investment Counsel LLC Has $23.52 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Woodmont Investment Counsel LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 916.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,367 shares of the semiconductor manufacturer's stock after acquiring an additional 122,953 shares during the quarter. Broadcom accounts for about 1.8% of Woodmont Investment Counsel LLC's investment portfolio, making the stock its 12th biggest position. Woodmont Investment Counsel LLC's holdings in Broadcom were worth $23,523,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Delta Asset Management LLC TN lifted its position in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC grew its stake in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Broadcom in the third quarter valued at about $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock traded down $0.17 during midday trading on Friday, reaching $183.64. 13,503,154 shares of the company were exchanged, compared to its average volume of 18,921,780. The company's 50 day moving average price is $170.75 and its two-hundred day moving average price is $157.78. The company has a market cap of $857.70 billion, a P/E ratio of 159.69, a PEG ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month 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 released 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 return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change 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 yield of 1.15%. Broadcom's payout ratio is 184.35%.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now 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. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVGO shares. StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Cantor Fitzgerald raised their price target on shares of 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 price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Finally, Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $192.79.

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.