Gladstone Institutional Advisory LLC Purchases 55,509 Shares of Broadcom Inc. (NASDAQ:AVGO)

Gladstone Institutional Advisory LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 978.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,180 shares of the semiconductor manufacturer’s stock after purchasing an additional 55,509 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Broadcom were worth $10,554,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Shepherd Financial Partners LLC raised its position in Broadcom by 1,252.9% in the 3rd quarter. Shepherd Financial Partners LLC now owns 26,219 shares of the semiconductor manufacturer’s stock valued at $4,523,000 after buying an additional 24,281 shares during the last quarter. Fonville Wealth Management LLC purchased a new stake in Broadcom in the 3rd quarter valued at $390,000. W Advisors LLC raised its position in Broadcom by 934.5% in the 3rd quarter. W Advisors LLC now owns 2,276 shares of the semiconductor manufacturer’s stock valued at $393,000 after buying an additional 2,056 shares during the last quarter. Human Investing LLC raised its position in Broadcom by 886.2% in the 3rd quarter. Human Investing LLC now owns 29,812 shares of the semiconductor manufacturer’s stock valued at $5,143,000 after buying an additional 26,789 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its position in Broadcom by 897.9% in the 3rd quarter. Interchange Capital Partners LLC now owns 7,205 shares of the semiconductor manufacturer’s stock valued at $1,243,000 after buying an additional 6,483 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Rosenblatt Securities lowered their price target 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. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Down 0.2 %

Shares of NASDAQ AVGO opened at $168.55 on Tuesday. Broadcom Inc. has a 52 week low of $87.12 and a 52 week high of $186.42. The business has a 50-day simple moving average of $169.12 and a two-hundred day simple moving average of $156.30. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $787.23 billion, a P/E ratio of 146.44, a P/E/G 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 EPS 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.26%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 10,000 shares of Broadcom stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total value of $1,671,400.00. Following the sale, the chief executive officer now owns 1,171,910 shares of the company’s stock, valued at approximately $195,873,037.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by company insiders.

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.