BIP Wealth LLC Has $1.01 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

BIP Wealth LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 905.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,844 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,263 shares during the quarter. BIP Wealth LLC’s holdings in Broadcom were worth $1,008,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stonebridge Capital Advisors LLC increased its stake in Broadcom by 18.9% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer’s stock valued at $300,000 after buying an additional 36 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Broadcom by 80.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock valued at $1,189,000 after purchasing an additional 400 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Broadcom by 6.2% during the 1st quarter. Epoch Investment Partners Inc. now owns 395,266 shares of the semiconductor manufacturer’s stock valued at $523,890,000 after purchasing an additional 23,162 shares during the last quarter. Lazard Asset Management LLC grew its position in Broadcom by 297.2% during the first quarter. Lazard Asset Management LLC now owns 523,732 shares of the semiconductor manufacturer’s stock valued at $694,158,000 after buying an additional 391,877 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its holdings in Broadcom by 75.5% during the first quarter. Steel Grove Capital Advisors LLC now owns 918 shares of the semiconductor manufacturer’s stock worth $1,217,000 after buying an additional 395 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research 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. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Price Performance

AVGO stock opened at $163.89 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm’s 50-day moving average price is $173.77 and its two-hundred day moving average price is $160.37. The stock has a market capitalization of $765.45 billion, a price-to-earnings ratio of 142.39, a PEG ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. As a group, equities analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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.