Phillips Wealth Planners LLC Acquires 10,391 Shares of Broadcom Inc. (NASDAQ:AVGO)

Phillips Wealth Planners LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 933.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,504 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,391 shares during the quarter. Broadcom makes up approximately 2.0% of Phillips Wealth Planners LLC’s holdings, making the stock its 3rd biggest holding. Phillips Wealth Planners LLC’s holdings in Broadcom were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lion Street Advisors LLC raised its stake in Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 6 shares during the period. O Dell Group LLC increased its stake in shares of Broadcom by 2.3% in the first quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after purchasing an additional 8 shares during the period. Hudson Value Partners LLC increased its stake in shares of Broadcom by 2.7% in the first quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock valued at $408,000 after purchasing an additional 8 shares during the period. Renasant Bank increased its stake in shares of Broadcom by 1.0% during the first quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock valued at $1,040,000 after acquiring an additional 8 shares during the period. Finally, Optimum Investment Advisors increased its stake in shares of Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. 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 research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Trading Down 0.2 %

Shares of NASDAQ:AVGO opened at $168.55 on Tuesday. The firm has a fifty day moving average of $169.12 and a two-hundred day moving average of $156.30. The firm has a market capitalization of $787.23 billion, a P/E ratio of 146.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. Broadcom Inc. has a 12-month low of $87.12 and a 12-month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. On average, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued 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 an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

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.