Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Coston McIsaac & Partners

Coston McIsaac & Partners raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 906.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 604 shares of the semiconductor manufacturer’s stock after buying an additional 544 shares during the quarter. Coston McIsaac & Partners’ holdings in Broadcom were worth $104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Kathmere Capital Management LLC raised its position in shares of Broadcom by 23.8% during the 1st quarter. Kathmere Capital Management LLC now owns 604 shares of the semiconductor manufacturer’s stock worth $801,000 after purchasing an additional 116 shares during the period. Occidental Asset Management LLC grew its holdings in Broadcom by 32.2% in the 1st quarter. Occidental Asset Management LLC now owns 263 shares of the semiconductor manufacturer’s stock worth $349,000 after buying an additional 64 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in Broadcom by 27.1% in the 1st quarter. Hodges Capital Management Inc. now owns 516 shares of the semiconductor manufacturer’s stock worth $684,000 after buying an additional 110 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Broadcom by 7.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,689 shares of the semiconductor manufacturer’s stock worth $7,540,000 after buying an additional 396 shares in the last quarter. Finally, First Bank & Trust bought a new position in Broadcom in the 1st quarter worth approximately $281,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO opened at $173.00 on Friday. The stock has a fifty day moving average of $168.03 and a 200-day moving average of $154.41. The firm has a market capitalization of $805.29 billion, a P/E ratio of 7.44, a PEG 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. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 company had revenue of $13.07 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. Equities analysts forecast 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. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 9.12%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 15,950 shares of the 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 completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This 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 at this link. In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. 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 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 sale, 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 disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Oppenheimer decreased their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Morgan Stanley increased 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. Mizuho increased their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, UBS Group decreased their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Two 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’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target 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.