Falcon Wealth Planning Buys 2,561 Shares of Broadcom Inc. (NASDAQ:AVGO)

Falcon Wealth Planning lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 945.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,832 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,561 shares during the quarter. Falcon Wealth Planning’s holdings in Broadcom were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Delta Asset Management LLC TN lifted its position in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the period. Tsfg LLC lifted its position in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Krane Funds Advisors LLC acquired a new position in shares of Broadcom in the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Broadcom in the 3rd quarter worth approximately $45,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $183.64 on Friday. The firm’s 50 day moving average is $170.75 and its 200 day moving average is $157.78. The stock has a market capitalization of $857.71 billion, a P/E ratio of 159.55, a PEG ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. 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 (NASDAQ:AVGO) last posted its earnings results 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 firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.15%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVGO shares. Morgan Stanley boosted their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The shares were 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 of the company’s stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently 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.