Peddock Capital Advisors LLC Has $2.23 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Peddock Capital Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 932.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,945 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,691 shares during the period. Peddock Capital Advisors LLC’s holdings in Broadcom were worth $2,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Lion Street Advisors LLC grew 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 acquiring an additional 6 shares in the last quarter. Tucker Asset Management LLC grew its holdings in shares of Broadcom by 12.5% in the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock valued at $80,000 after acquiring an additional 8 shares in the last quarter. Buckley Wealth Management LLC grew its holdings in shares of Broadcom by 0.7% in the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after acquiring an additional 8 shares in the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in shares of Broadcom by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after acquiring an additional 8 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 0.1 %

Shares of NASDAQ:AVGO traded up $0.13 on Wednesday, reaching $180.86. 5,510,189 shares of the company traded hands, compared to its average volume of 30,933,537. The business’s 50-day simple moving average is $160.88 and its 200 day simple moving average is $150.57. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $185.16. The stock has a market capitalization of $841.88 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm 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%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total value of $3,446,400.00. Following the sale, the chief executive officer now directly owns 1,151,910 shares of the company’s stock, valued at $198,497,131.20. This trade represents 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 available through this link. In related news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total value of $3,446,400.00. Following the sale, the chief executive officer now directly owns 1,151,910 shares of the company’s stock, valued at $198,497,131.20. This trade represents 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 available through this link. Also, 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 transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,452 shares of company stock valued at $56,396,638 over the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVGO. The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Sanford C. Bernstein increased their target price on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 13th. Two 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 stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average 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.