Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Wrapmanager Inc.

Wrapmanager Inc. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 861.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,972 shares of the semiconductor manufacturer's stock after purchasing an additional 17,894 shares during the quarter. Broadcom comprises about 0.9% of Wrapmanager Inc.'s portfolio, making the stock its 23rd biggest position. Wrapmanager Inc.'s holdings in Broadcom were worth $3,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB lifted its position in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Swiss National Bank raised its stake in Broadcom by 907.0% in the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer's stock worth $2,264,223,000 after buying an additional 11,822,467 shares in the last quarter. Van ECK Associates Corp boosted its position in Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer's stock valued at $2,203,837,000 after acquiring an additional 11,453,554 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Broadcom by 908.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer's stock worth $1,962,029,000 after acquiring an additional 10,245,786 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Broadcom stock traded down $1.38 during midday trading on Friday, hitting $162.56. 2,394,678 shares of the company were exchanged, compared to its average volume of 29,229,432. The business has a fifty day simple moving average of $173.77 and a two-hundred day simple moving average of $160.37. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market capitalization of $759.25 billion, a PE ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 business had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same quarter last year, the company earned $0.95 EPS. The business's revenue was up 47.3% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.30%. Broadcom's payout ratio is presently 184.19%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Mizuho lifted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $192.79.

Insiders Place Their Bets

In other news, 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 transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom 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.