Advisors Management Group Inc. ADV Acquires New Shares in Broadcom Inc. (NASDAQ:AVGO)

Advisors Management Group Inc. ADV bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,206 shares of the semiconductor manufacturer’s stock, valued at approximately $898,000.

Several other hedge funds have also recently modified their holdings of the business. AXA S.A. lifted its holdings in shares of Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC increased its position in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. increased its holdings in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC raised its position in Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after acquiring an additional 8,834 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after acquiring an additional 71,181 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the company’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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.1 %

Shares of NASDAQ AVGO opened at $183.64 on Friday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week 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 company has a market cap of $857.71 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. The business’s 50 day moving average price is $170.75 and its 200-day moving average price is $157.78.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AVGO shares. Oppenheimer cut their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $192.79.

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.