Chicago Partners Investment Group LLC Has $2.47 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Chicago Partners Investment Group LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,245 shares of the semiconductor manufacturer’s stock after buying an additional 1,670 shares during the period. Chicago Partners Investment Group LLC’s holdings in Broadcom were worth $2,472,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AVGO. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in Broadcom by 6.4% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 479 shares of the semiconductor manufacturer’s stock worth $635,000 after buying an additional 29 shares during the last quarter. Signaturefd LLC increased its holdings in Broadcom by 0.7% during the first quarter. Signaturefd LLC now owns 7,390 shares of the semiconductor manufacturer’s stock worth $9,794,000 after buying an additional 51 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in Broadcom by 141.7% during the first quarter. Richardson Financial Services Inc. now owns 145 shares of the semiconductor manufacturer’s stock worth $192,000 after buying an additional 85 shares during the last quarter. Team Hewins LLC increased its holdings in Broadcom by 2.5% during the first quarter. Team Hewins LLC now owns 1,731 shares of the semiconductor manufacturer’s stock worth $2,294,000 after buying an additional 43 shares during the last quarter. Finally, 9258 Wealth Management LLC boosted its position in Broadcom by 2.4% during the first quarter. 9258 Wealth Management LLC now owns 3,979 shares of the semiconductor manufacturer’s stock worth $5,274,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday. Rosenblatt Securities cut their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Truist Financial increased their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on 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 directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 0.2 %

AVGO stock opened at $168.55 on Tuesday. The company has a market capitalization of $787.23 billion, a PE ratio of 146.44, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. Broadcom Inc. has a one year low of $87.12 and a one year high of $186.42. The company’s 50 day moving average price is $169.12 and its two-hundred day moving average price is $156.30. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is presently 184.19%.

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.