MA Private Wealth Has $414,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

MA Private Wealth boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, HoldingsChannel reports. The fund owned 2,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,160 shares during the quarter. MA Private Wealth’s holdings in Broadcom were worth $414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Castleview Partners LLC lifted its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the period. Delta Asset Management LLC TN raised its holdings in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $36,000. Tsfg LLC raised its stake in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares during the last quarter. Finally, Krane Funds Advisors LLC acquired a new position in Broadcom in the third quarter valued at $42,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock opened at $173.00 on Monday. 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 $805.29 billion, a P/E ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $168.18 and its 200 day moving average is $154.68.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared 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 was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is currently 9.12%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVGO shares. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group reduced their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Oppenheimer dropped their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’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 transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. 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 accessible through the SEC website. In related news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.