Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,233.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,288 shares of the semiconductor manufacturer’s stock after acquiring an additional 17,841 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Broadcom were worth $3,327,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Swedbank AB lifted its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Jennison Associates LLC boosted its stake in Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares in the last quarter. Legal & General Group Plc increased its position in shares of Broadcom by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock valued at $6,362,816,000 after purchasing an additional 83,846 shares during the period. Finally, GQG Partners LLC raised its stake in shares of Broadcom by 48.9% in the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after buying an additional 983,328 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. UBS Group dropped their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Down 0.9 %

Broadcom stock opened at $179.89 on Friday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm 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. The firm’s 50 day moving average price is $166.52 and its two-hundred day moving average price is $153.25.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, 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 link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom 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.