Alaska Wealth Advisors Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Alaska Wealth Advisors lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 902.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,425 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,183 shares during the period. Alaska Wealth Advisors’ holdings in Broadcom were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lion Street Advisors LLC increased its holdings in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after purchasing an additional 6 shares during the period. Optimum Investment Advisors increased its stake in Broadcom by 0.6% in the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after buying an additional 8 shares during the period. Anderson Hoagland & Co. raised its position in Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after buying an additional 9 shares during the last quarter. Wealth Group Ltd lifted its stake in shares of Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after acquiring an additional 10 shares during the period. Finally, Canandaigua National Bank & Trust Co. boosted its holdings in shares of Broadcom by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $170.38 on Friday. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm has a market capitalization of $795.77 billion, a PE ratio of 148.03, a P/E/G ratio of 2.07 and a beta of 1.17. The firm has a 50-day moving average price of $171.93 and a 200 day moving average price of $158.86. 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 announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 given a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. 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. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 transaction, 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 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s 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 sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.