Tidemark LLC Has $178,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Tidemark LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 961.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,030 shares of the semiconductor manufacturer’s stock after purchasing an additional 933 shares during the quarter. Tidemark LLC’s holdings in Broadcom were worth $178,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC boosted its holdings in shares of Broadcom by 1,487.6% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 5,620 shares of the semiconductor manufacturer’s stock worth $969,000 after buying an additional 5,266 shares during the period. Drive Wealth Management LLC increased its holdings in shares of Broadcom by 922.6% during the third quarter. Drive Wealth Management LLC now owns 11,698 shares of the semiconductor manufacturer’s stock worth $2,018,000 after purchasing an additional 10,554 shares during the period. Capital City Trust Co. FL boosted its stake in shares of Broadcom by 890.5% in the third quarter. Capital City Trust Co. FL now owns 96,646 shares of the semiconductor manufacturer’s stock valued at $16,671,000 after buying an additional 86,889 shares during the period. First Western Trust Bank grew its position in Broadcom by 902.2% during the third quarter. First Western Trust Bank now owns 3,227 shares of the semiconductor manufacturer’s stock worth $557,000 after buying an additional 2,905 shares in the last quarter. Finally, Strengthening Families & Communities LLC increased its stake in Broadcom by 1,028.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 22,467 shares of the semiconductor manufacturer’s stock worth $3,875,000 after acquiring an additional 20,476 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 1.3 %

Broadcom stock opened at $163.25 on Thursday. The stock has a market cap of $762.47 billion, a P/E ratio of 141.96, a PEG ratio of 1.94 and a beta of 1.17. 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 firm’s fifty day moving average price is $173.78 and its 200-day moving average price is $160.09. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.35%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 3.24 % 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 in the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AVGO shares. The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Broadcom 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.