Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 290.5% during the 3rd quarter, Holdings Channel reports. The firm owned 21,558 shares of the semiconductor manufacturer’s stock after buying an additional 16,037 shares during the period. Ameritas Advisory Services LLC’s holdings in Broadcom were worth $3,719,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Heritage Investors Management Corp raised its stake in Broadcom by 891.8% during the third quarter. Heritage Investors Management Corp now owns 608,004 shares of the semiconductor manufacturer’s stock worth $104,881,000 after purchasing an additional 546,702 shares during the period. Arthur M. Cohen & Associates LLC raised its stake in shares of Broadcom by 924.9% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,120 shares of the semiconductor manufacturer’s stock valued at $690,000 after acquiring an additional 3,718 shares during the period. Hanlon Investment Management Inc. raised its stake in shares of Broadcom by 902.3% in the 3rd quarter. Hanlon Investment Management Inc. now owns 13,381 shares of the semiconductor manufacturer’s stock valued at $2,308,000 after acquiring an additional 12,046 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of Broadcom by 867.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 61,900 shares of the semiconductor manufacturer’s stock valued at $10,678,000 after acquiring an additional 55,504 shares during the period. Finally, Geneva Partners LLC grew its holdings in Broadcom by 896.7% during the 3rd quarter. Geneva Partners LLC now owns 68,007 shares of the semiconductor manufacturer’s stock valued at $11,731,000 after purchasing an additional 61,184 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Rosenblatt Securities decreased their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Down 0.1 %

AVGO stock opened at $183.64 on Friday. The firm’s 50-day moving average is $170.75 and its two-hundred day moving average is $157.78. The company has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a price-to-earnings-growth ratio of 1.99 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. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. On average, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of the business’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 owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. 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. Corporate insiders own 2.00% of the company’s stock.

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.