Baker Tilly Wealth Management LLC Buys 7,113 Shares of Broadcom Inc. (NASDAQ:AVGO)

Baker Tilly Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 813.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,987 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,113 shares during the period. Broadcom comprises approximately 0.6% of Baker Tilly Wealth Management LLC’s holdings, making the stock its 29th largest position. Baker Tilly Wealth Management LLC’s holdings in Broadcom were worth $1,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tempus Wealth Planning LLC purchased a new stake in Broadcom in the 1st quarter worth about $203,000. Park Edge Advisors LLC boosted its position in shares of Broadcom by 28.2% during the first quarter. Park Edge Advisors LLC now owns 842 shares of the semiconductor manufacturer’s stock valued at $1,116,000 after buying an additional 185 shares during the period. American National Bank & Trust Co. VA purchased a new stake in shares of Broadcom in the first quarter worth approximately $5,055,000. Marshall Financial Group LLC lifted its stake in shares of Broadcom by 2.2% during the 1st quarter. Marshall Financial Group LLC now owns 2,695 shares of the semiconductor manufacturer’s stock worth $3,572,000 after acquiring an additional 58 shares during the last quarter. Finally, Whelan Financial lifted its stake in shares of Broadcom by 29.7% during the 1st quarter. Whelan Financial now owns 262 shares of the semiconductor manufacturer’s stock worth $347,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value 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 $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Down 1.5 %

Broadcom stock opened at $176.64 on Thursday. The business’s 50-day simple moving average is $168.74 and its two-hundred day simple moving average is $155.58. 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 company has a market cap of $822.24 billion, a PE ratio of 153.60, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $83.26 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. Broadcom’s payout ratio is currently 184.35%.

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.