World Equity Group Inc. Purchases 5,244 Shares of Broadcom Inc. (NASDAQ:AVGO)

World Equity Group Inc. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 787.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,910 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,244 shares during the period. World Equity Group Inc.’s holdings in Broadcom were worth $1,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Castleview Partners LLC raised its stake in 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 buying an additional 134 shares in the last quarter. Delta Asset Management LLC TN raised its stake in Broadcom by 242.9% in 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 in the last quarter. Tsfg LLC raised its stake in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Broadcom in the third quarter worth about $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom in the third quarter worth about $45,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. increased 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. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday. Two research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity

In other news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. 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 at this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.4 %

Shares of AVGO stock opened at $183.81 on Friday. The company has a market capitalization of $858.50 billion, a price-to-earnings ratio of 159.70, a PEG ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a one year low of $89.90 and a one year high of $186.42. The company’s fifty day moving average price is $169.80 and its 200-day moving average price is $156.94. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 47.3% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. Sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed 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. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

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.