U.S. Capital Wealth Advisors LLC Has $7.20 Million Position in Broadcom Inc. (NASDAQ:AVGO)

U.S. Capital Wealth Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 898.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,710 shares of the semiconductor manufacturer’s stock after purchasing an additional 37,532 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Broadcom were worth $7,195,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVGO shares. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. William Blair started coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Truist Financial raised their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $173.00 on Friday. The company has a fifty day simple moving average of $168.03 and a 200 day simple moving average of $154.41. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. 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 company has a market cap of $805.29 billion, a P/E ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 business 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 posted $0.95 EPS. Broadcom’s revenue was up 47.3% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

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.