Abner Herrman & Brock LLC Has $491,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Abner Herrman & Brock LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,052.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,847 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,600 shares during the period. Abner Herrman & Brock LLC’s holdings in Broadcom were worth $491,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVGO. Vanguard Group Inc. grew its position in shares of Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the period. Jennison Associates LLC lifted its position in shares of Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after acquiring an additional 1,263,957 shares during the period. Legal & General Group Plc boosted its stake in Broadcom by 2.2% during the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after acquiring an additional 83,846 shares in the last quarter. GQG Partners LLC grew its holdings in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after purchasing an additional 983,328 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in Broadcom by 826.3% in the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after purchasing an additional 2,643,845 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 2.9 %

AVGO stock opened at $185.95 on Thursday. The stock has a market cap of $865.57 billion, a P/E ratio of 8.00, a P/E/G ratio of 2.78 and a beta of 1.17. 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 stock’s fifty day simple moving average is $160.88 and its two-hundred day simple moving average is $150.57. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given 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 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s 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 in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the 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 owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,230 shares of company stock worth $47,190,190 in the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Sanford C. Bernstein increased their price target on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Evercore ISI boosted their price objective on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company 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.