Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Apollon Financial LLC

Apollon Financial LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 918.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,589 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,763 shares during the period. Broadcom makes up 0.9% of Apollon Financial LLC’s investment portfolio, making the stock its 25th largest holding. Apollon Financial LLC’s holdings in Broadcom were worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. WealthPlan Investment Management LLC purchased a new stake in Broadcom during the third quarter worth $2,810,000. Patron Partners LLC boosted its position in shares of Broadcom by 888.8% in the 3rd quarter. Patron Partners LLC now owns 12,152 shares of the semiconductor manufacturer’s stock worth $2,096,000 after buying an additional 10,923 shares in the last quarter. WealthPLAN Partners LLC grew its stake in Broadcom by 271.7% in the 3rd quarter. WealthPLAN Partners LLC now owns 5,022 shares of the semiconductor manufacturer’s stock valued at $866,000 after acquiring an additional 3,671 shares during the last quarter. First National Trust Co increased its holdings in Broadcom by 914.1% during the 3rd quarter. First National Trust Co now owns 221,116 shares of the semiconductor manufacturer’s stock valued at $38,143,000 after acquiring an additional 199,311 shares in the last quarter. Finally, Waverton Investment Management Ltd raised its position in Broadcom by 582.5% during the third quarter. Waverton Investment Management Ltd now owns 1,290 shares of the semiconductor manufacturer’s stock worth $222,000 after acquiring an additional 1,101 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction dated 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 directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 3.3 %

AVGO opened at $164.84 on Friday. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm has a 50 day moving average price of $172.29 and a 200 day moving average price of $159.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $769.90 billion, a PE ratio of 143.34, a price-to-earnings-growth ratio of 2.04 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, beating analysts’ consensus estimates of $1.20 by $0.04. The business 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 business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AVGO shares. 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 research note on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley raised their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

About Broadcom

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.