Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 946.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,779 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,609 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Broadcom were worth $307,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Phillips Wealth Planners LLC raised its holdings in shares of Broadcom by 933.6% in the third quarter. Phillips Wealth Planners LLC now owns 11,504 shares of the semiconductor manufacturer’s stock worth $2,034,000 after acquiring an additional 10,391 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Broadcom by 1,316.4% in the third quarter. Farther Finance Advisors LLC now owns 55,565 shares of the semiconductor manufacturer’s stock worth $9,585,000 after acquiring an additional 51,642 shares during the last quarter. Weatherly Asset Management L. P. raised its holdings in shares of Broadcom by 899.7% in the third quarter. Weatherly Asset Management L. P. now owns 3,859 shares of the semiconductor manufacturer’s stock worth $666,000 after acquiring an additional 3,473 shares during the last quarter. Capital Advisors Inc. OK raised its holdings in shares of Broadcom by 609.1% in the third quarter. Capital Advisors Inc. OK now owns 190,648 shares of the semiconductor manufacturer’s stock worth $32,887,000 after acquiring an additional 163,762 shares during the last quarter. Finally, Pacific Heights Asset Management LLC raised its holdings in shares of Broadcom by 900.0% in the third quarter. Pacific Heights Asset Management LLC now owns 220,000 shares of the semiconductor manufacturer’s stock worth $37,950,000 after acquiring an additional 198,000 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’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 sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AVGO shares. Oppenheimer cut their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. The Goldman Sachs Group lifted their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $168.55 on Tuesday. Broadcom Inc. has a 1-year low of $87.12 and a 1-year high of $186.42. The business has a 50-day moving average of $169.12 and a 200-day moving average of $156.30. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $787.23 billion, a price-to-earnings ratio of 146.44, a PEG ratio of 2.73 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 for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The company’s revenue was up 47.3% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.26%. Broadcom’s payout ratio is 184.19%.

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.