86,171 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, HoldingsChannel.com reports. The fund purchased 86,171 shares of the semiconductor manufacturer’s stock, valued at approximately $14,865,000. Broadcom comprises about 0.7% of Sowell Financial Services LLC’s investment portfolio, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. J. W. Coons Advisors LLC increased its stake in shares of Broadcom by 5.1% in the fourth quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after acquiring an additional 69 shares during the period. Gabelli Funds LLC raised its position in Broadcom by 25.9% during the 4th quarter. Gabelli Funds LLC now owns 5,107 shares of the semiconductor manufacturer’s stock worth $5,701,000 after buying an additional 1,049 shares during the last quarter. Exencial Wealth Advisors LLC increased its holdings in shares of Broadcom by 6.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 1,594 shares of the semiconductor manufacturer’s stock valued at $1,779,000 after purchasing an additional 97 shares in the last quarter. Morningstar Investment Services LLC increased its holdings in shares of Broadcom by 151.0% in the 4th quarter. Morningstar Investment Services LLC now owns 2,824 shares of the semiconductor manufacturer’s stock valued at $3,170,000 after purchasing an additional 1,699 shares in the last quarter. Finally, Platform Technology Partners acquired a new stake in Broadcom in the 4th quarter valued at about $268,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Broadcom stock traded up $4.20 during midday trading on Friday, reaching $176.09. 10,754,999 shares of the company traded hands, compared to its average volume of 31,161,359. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 12 month low of $81.17 and a 12 month high of $185.16. The firm has a market capitalization of $819.68 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The business has a 50 day moving average of $159.14 and a two-hundred day moving average of $149.44.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the company posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, research analysts predict 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. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 9.12%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,171,910 shares in the company, valued at approximately $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Hock E. Tan sold 10,000 shares of Broadcom stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total value of $1,671,400.00. Following the completion of the transaction, the chief executive officer now owns 1,171,910 shares in the company, valued at $195,873,037.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,452 shares of company stock valued at $52,950,238. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Bank of America restated a “buy” rating and issued a $215.00 price target (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Morgan Stanley raised their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Barclays lifted their price objective on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Finally, UBS Group dropped their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

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.