Osher Van de Voorde Investment Management Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Osher Van de Voorde Investment Management boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, Holdings Channel.com reports. The firm owned 8,000 shares of the semiconductor manufacturer’s stock after buying an additional 7,200 shares during the period. Broadcom accounts for about 0.3% of Osher Van de Voorde Investment Management’s portfolio, making the stock its 26th largest position. Osher Van de Voorde Investment Management’s holdings in Broadcom were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. grew its holdings in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC purchased a new position in Broadcom during the first quarter valued at $29,000. Delta Asset Management LLC TN boosted its holdings in shares of Broadcom by 242.9% during the 1st 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 in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Broadcom during the 1st quarter valued at about $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Broadcom in the fourth quarter worth about $43,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,452 shares of company stock valued at $56,396,638 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $180.73 on Wednesday. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $185.16. The firm has a market capitalization of $841.28 billion, a P/E ratio of 7.77, a P/E/G ratio of 2.78 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business’s 50-day moving average is $160.88 and its two-hundred day moving average is $150.57.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The business 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% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. Analysts anticipate 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 paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. 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 dividend payout ratio (DPR) is 9.12%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVGO. Sanford C. Bernstein increased their price objective on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Citigroup reissued a “buy” rating and issued a $156.00 target price on shares of Broadcom in a report on Tuesday, June 11th. Cantor Fitzgerald upped their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Finally, Morgan Stanley raised their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

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.