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

Evermay Wealth Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 924.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,781 shares of the semiconductor manufacturer’s stock after buying an additional 7,924 shares during the quarter. Evermay Wealth Management LLC’s holdings in Broadcom were worth $1,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Swedbank AB increased its stake in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Raymond James & Associates boosted its position in shares of Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after buying an additional 11,347,563 shares during the period. International Assets Investment Management LLC boosted its position in shares of Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after buying an additional 8,242,455 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after buying an additional 7,280,304 shares during the period. Finally, New York State Teachers Retirement System boosted its position in shares of Broadcom by 895.6% during the third quarter. New York State Teachers Retirement System now owns 4,204,567 shares of the semiconductor manufacturer’s stock worth $725,288,000 after buying an additional 3,782,233 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AVGO. UBS Group lowered their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Mizuho raised their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Rosenblatt Securities lowered their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.5 %

Broadcom stock opened at $168.92 on Friday. The stock’s fifty day moving average is $168.94 and its two-hundred day moving average is $156.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1-year low of $86.00 and a 1-year high of $186.42. The stock has a market cap of $786.30 billion, a PE ratio of 146.89, a P/E/G ratio of 2.84 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.35%.

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.