Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3,425.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282 shares of the semiconductor manufacturer’s stock after acquiring an additional 274 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Broadcom were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC grew its stake in shares of Broadcom by 23.8% in the first quarter. Kathmere Capital Management LLC now owns 604 shares of the semiconductor manufacturer’s stock valued at $801,000 after buying an additional 116 shares in the last quarter. Occidental Asset Management LLC grew its stake in shares of Broadcom by 32.2% in the first quarter. Occidental Asset Management LLC now owns 263 shares of the semiconductor manufacturer’s stock valued at $349,000 after buying an additional 64 shares in the last quarter. Hodges Capital Management Inc. grew its stake in shares of Broadcom by 27.1% in the first quarter. Hodges Capital Management Inc. now owns 516 shares of the semiconductor manufacturer’s stock valued at $684,000 after buying an additional 110 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Broadcom by 7.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,689 shares of the semiconductor manufacturer’s stock valued at $7,540,000 after buying an additional 396 shares in the last quarter. Finally, First Bank & Trust acquired a new stake in shares of Broadcom in the first quarter valued at about $281,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AVGO shares. Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Cantor Fitzgerald raised their price objective 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 raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Trading Up 1.0 %

Shares of NASDAQ AVGO opened at $173.00 on Friday. The company has a market cap of $805.29 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock’s 50 day simple moving average is $168.03 and its 200 day simple moving average is $154.41.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 was up 47.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Equities research analysts expect that Broadcom Inc. will post 3.78 EPS 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 $0.53 dividend. This is an increase 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 1.23%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

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.