Wetzel Investment Advisors Inc. Has $700,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Wetzel Investment Advisors Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 984.8% in the third quarter, HoldingsChannel reports. The firm owned 4,057 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,683 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Broadcom were worth $700,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SYM FINANCIAL Corp lifted its position in shares of Broadcom by 6.0% during the first quarter. SYM FINANCIAL Corp now owns 390 shares of the semiconductor manufacturer’s stock worth $517,000 after purchasing an additional 22 shares in the last quarter. Concord Investment Counsel Inc. acquired a new position in Broadcom during the 1st quarter worth $297,000. CFO4Life Group LLC boosted its position in Broadcom by 5.2% in the 1st quarter. CFO4Life Group LLC now owns 1,225 shares of the semiconductor manufacturer’s stock valued at $1,624,000 after buying an additional 61 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Broadcom by 3.7% in the 1st quarter. Empirical Finance LLC now owns 14,728 shares of the semiconductor manufacturer’s stock valued at $19,521,000 after buying an additional 528 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Broadcom by 2.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,695 shares of the semiconductor manufacturer’s stock worth $23,453,000 after acquiring an additional 460 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. 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 accessible through this hyperlink. 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents 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 three months. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. 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 dropped their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities reduced their price target 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. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Performance

Shares of Broadcom stock opened at $179.55 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market cap of $838.60 billion, a price-to-earnings ratio of 156.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a one year low of $87.62 and a one year high of $186.42. The stock’s 50-day moving average is $169.80 and its 200-day moving average is $156.94.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The business’s revenue was up 47.3% on a year-over-year basis. Equities analysts predict 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. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 184.35%.

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.