Catalytic Wealth RIA LLC Purchases 6,666 Shares of Broadcom Inc. (NASDAQ:AVGO)

Catalytic Wealth RIA LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 1,022.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,318 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,666 shares during the period. Catalytic Wealth RIA LLC’s holdings in Broadcom were worth $1,262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Swedbank AB raised its holdings in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after buying an additional 11,453,554 shares during the period. Raymond James & Associates increased its stake in shares of Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC lifted its position in Broadcom by 226,130.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock valued at $14,224,520,000 after acquiring an additional 8,242,455 shares during the period. Finally, National Pension Service boosted its stake in Broadcom by 1,045.4% during the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock worth $1,427,120,000 after acquiring an additional 7,550,878 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their position. 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 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.8 %

Shares of NASDAQ:AVGO opened at $170.38 on Friday. The stock has a 50 day moving average of $171.93 and a 200 day moving average of $158.86. The company has a market cap of $795.77 billion, a PE ratio of 150.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 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.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $12.98 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. 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%.

Analyst Ratings Changes

A number of brokerages have weighed in on AVGO. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Mizuho lifted their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. 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. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

About Broadcom

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.