Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 894.3% in the third quarter, Holdings Channel reports. The institutional investor owned 27,096 shares of the semiconductor manufacturer’s stock after buying an additional 24,371 shares during the period. Broadcom accounts for 2.2% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 4th biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in Broadcom were worth $4,674,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Quad Cities Investment Group LLC raised its holdings in Broadcom by 901.0% during the third quarter. Quad Cities Investment Group LLC now owns 7,838 shares of the semiconductor manufacturer’s stock worth $1,352,000 after purchasing an additional 7,055 shares in the last quarter. Patton Fund Management Inc. raised its stake in shares of Broadcom by 835.0% during the 3rd quarter. Patton Fund Management Inc. now owns 32,238 shares of the semiconductor manufacturer’s stock worth $5,561,000 after buying an additional 28,790 shares in the last quarter. Good Life Advisors LLC lifted its holdings in shares of Broadcom by 2,349.1% in the 3rd quarter. Good Life Advisors LLC now owns 31,618 shares of the semiconductor manufacturer’s stock valued at $5,455,000 after buying an additional 30,327 shares during the period. nVerses Capital LLC boosted its stake in shares of Broadcom by 2,800.0% in the third quarter. nVerses Capital LLC now owns 5,800 shares of the semiconductor manufacturer’s stock valued at $1,000,000 after buying an additional 5,600 shares in the last quarter. Finally, Financial Advisors LLC grew its holdings in Broadcom by 900.0% during the third quarter. Financial Advisors LLC now owns 1,590 shares of the semiconductor manufacturer’s stock worth $274,000 after acquiring an additional 1,431 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

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

Broadcom Stock Down 0.9 %

AVGO opened at $179.89 on Friday. The business has a 50-day moving average of $166.52 and a two-hundred day moving average of $153.25. 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 $81.83 and a 12 month high of $186.42. The stock has a market capitalization of $837.37 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

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 company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Broadcom’s revenue was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 9.12%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. 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. Oppenheimer decreased their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reiterated a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

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.