Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 56.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,405 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,301 shares during the quarter. Blue Trust Inc.’s holdings in Broadcom were worth $1,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Legend Financial Advisors Inc. increased its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom in the first quarter valued at about $29,000. Delta Asset Management LLC TN boosted its stake in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $36,000. Finally, St. Johns Investment Management Company LLC raised its stake in shares of Broadcom by 4,000.0% in the 1st quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after acquiring an additional 40 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. 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 three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Rosenblatt Securities dropped 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. Finally, Benchmark reissued a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two equities 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Performance

Shares of AVGO opened at $179.89 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The stock has a 50 day moving average price of $166.52 and a 200 day moving average price of $153.25. The company 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 issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

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.