MONECO Advisors LLC Acquires 13,596 Shares of Broadcom Inc. (NASDAQ:AVGO)

MONECO Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 918.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,076 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,596 shares during the period. MONECO Advisors LLC’s holdings in Broadcom were worth $2,601,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AVGO. Diversify Advisory Services LLC boosted its position in Broadcom by 925.7% in the third quarter. Diversify Advisory Services LLC now owns 63,276 shares of the semiconductor manufacturer’s stock valued at $11,350,000 after buying an additional 57,107 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Broadcom by 793.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 93,228 shares of the semiconductor manufacturer’s stock valued at $16,082,000 after acquiring an additional 82,790 shares during the last quarter. SC&H Financial Advisors Inc. boosted its holdings in shares of Broadcom by 1,318.1% during the 3rd quarter. SC&H Financial Advisors Inc. now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $582,000 after acquiring an additional 3,137 shares in the last quarter. Legacy Wealth Management Inc bought a new stake in Broadcom during the 3rd quarter worth $326,000. Finally, Fortitude Family Office LLC increased its holdings in Broadcom by 1,045.5% in the 3rd quarter. Fortitude Family Office LLC now owns 3,780 shares of the semiconductor manufacturer’s stock worth $652,000 after purchasing an additional 3,450 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.5 %

Shares of Broadcom stock opened at $168.92 on Friday. 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 52 week low of $86.00 and a 52 week high of $186.42. The stock has a 50 day moving average price of $168.94 and a two-hundred day moving average price of $156.03. The stock has a market capitalization of $788.95 billion, a PE ratio of 146.76, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. UBS Group reduced their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, 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 report on Tuesday, July 16th. Two 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

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.