Blake Schutter Theil Wealth Advisors LLC Buys Shares of 5,321 Broadcom Inc. (NASDAQ:AVGO)

Blake Schutter Theil Wealth Advisors LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,321 shares of the semiconductor manufacturer’s stock, valued at approximately $918,000.

Several other large investors have also recently modified their holdings of AVGO. 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 valued at $32,000 after buying an additional 17 shares during the last quarter. Clear Point Advisors Inc. raised its stake in Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after acquiring an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO lifted its position in Broadcom by 39.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after acquiring an additional 15 shares during the period. Creekmur Asset Management LLC grew its stake in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock valued at $98,000 after purchasing an additional 35 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom in the second quarter valued at about $128,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.1 %

Shares of Broadcom stock opened at $183.64 on Friday. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The stock has a market cap of $857.71 billion, a P/E ratio of 159.55, a P/E/G ratio of 2.11 and a beta of 1.17. The stock’s 50 day simple moving average is $170.75 and its 200-day simple moving average is $157.78. 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 issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the company earned $0.95 EPS. The company’s quarterly revenue was up 47.3% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVGO shares. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Truist Financial boosted their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two equities 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares in the company, valued at $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the business’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 owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $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.