Stratos Wealth Advisors LLC Has $1.78 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stratos Wealth Advisors LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 926.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,326 shares of the semiconductor manufacturer’s stock after buying an additional 9,320 shares during the period. Stratos Wealth Advisors LLC’s holdings in Broadcom were worth $1,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. lifted its holdings in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC acquired a new position in Broadcom in the first quarter valued at $29,000. Delta Asset Management LLC TN lifted its holdings 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 period. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the first quarter valued at $36,000. Finally, Tsfg LLC lifted its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 0.9 %

AVGO opened at $179.89 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $837.37 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company’s 50-day moving average price is $166.52 and its two-hundred day moving average price is $153.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared 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 a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVGO shares. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Morgan Stanley lifted their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.54.

Insider Activity 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 shares were sold at an average price of $168.27, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.