Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Howard Capital Management Group LLC

Howard Capital Management Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 2,219.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,039 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,908 shares during the period. Howard Capital Management Group LLC’s holdings in Broadcom were worth $524,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVGO. LexAurum Advisors LLC increased its position in shares of Broadcom by 645.0% during the third quarter. LexAurum Advisors LLC now owns 6,325 shares of the semiconductor manufacturer’s stock worth $1,091,000 after acquiring an additional 5,476 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its position in shares of Broadcom by 832.8% during the third quarter. DiNuzzo Private Wealth Inc. now owns 541 shares of the semiconductor manufacturer’s stock worth $93,000 after acquiring an additional 483 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in shares of Broadcom by 897.7% during the third quarter. Onyx Bridge Wealth Group LLC now owns 11,773 shares of the semiconductor manufacturer’s stock worth $2,031,000 after acquiring an additional 10,593 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Broadcom during the third quarter worth about $42,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Broadcom by 946.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 584,521 shares of the semiconductor manufacturer’s stock worth $100,830,000 after acquiring an additional 528,667 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $179.89 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a 50 day simple moving average of $166.52 and a 200-day simple moving average of $153.25. The company has a market cap of $837.37 billion, a PE ratio of 7.74, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The stock was 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 of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $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 sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AVGO shares. Oppenheimer dropped their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Bank of America reissued a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Broadcom in a report on Monday, June 24th. Two investment 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

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.