Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,028.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,635 shares of the semiconductor manufacturer’s stock after acquiring an additional 258,502 shares during the quarter. Broadcom accounts for 1.3% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 15th largest position. Whittier Trust Co. of Nevada Inc.’s holdings in Broadcom were worth $48,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of AVGO. Sound Income Strategies LLC increased its stake in shares of Broadcom by 193.8% in the 1st quarter. Sound Income Strategies LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $186,000 after purchasing an additional 93 shares in the last quarter. Brookstone Capital Management increased its position in shares of Broadcom by 7.6% in the first quarter. Brookstone Capital Management now owns 2,981 shares of the semiconductor manufacturer’s stock valued at $3,952,000 after buying an additional 211 shares in the last quarter. Sovereign Financial Group Inc. raised its stake in shares of Broadcom by 27.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 491 shares of the semiconductor manufacturer’s stock worth $651,000 after buying an additional 105 shares during the period. St. Johns Investment Management Company LLC lifted its position in shares of Broadcom by 4,000.0% during the 1st quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after buying an additional 40 shares in the last quarter. Finally, Aspiriant LLC grew its stake in Broadcom by 5.7% in the 1st quarter. Aspiriant LLC now owns 1,082 shares of the semiconductor manufacturer’s stock valued at $1,434,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $4,240,404.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 3.3 %

Shares of AVGO stock opened at $173.51 on Thursday. The company has a 50-day moving average of $167.93 and a two-hundred day moving average of $154.14. The firm has a market cap of $807.67 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, analysts predict 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 is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Oppenheimer dropped their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised 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. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.54.

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.