Hoxton Planning & Management LLC Buys 5,367 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hoxton Planning & Management LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 912.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,955 shares of the semiconductor manufacturer’s stock after buying an additional 5,367 shares during the period. Hoxton Planning & Management LLC’s holdings in Broadcom were worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Legend Financial Advisors Inc. raised its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new position in Broadcom in the first quarter valued at $29,000. Delta Asset Management LLC TN increased its holdings in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Broadcom during the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $43,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 3.2 %

NASDAQ AVGO opened at $180.73 on Wednesday. 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 stock has a market capitalization of $841.28 billion, a PE ratio of 7.77, a PEG ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $185.16. The business’s 50-day moving average is $160.14 and its 200 day moving average is $150.17.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.17%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction that occurred 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 directly owns 1,181,910 shares of the company’s stock, 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 three months, insiders have sold 263,452 shares of company stock valued at $56,396,638. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Citigroup reissued a “buy” rating and set a $156.00 price target on shares of Broadcom in a research report on Tuesday, June 11th. Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Mizuho lifted their price target on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $190.29.

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.