Toth Financial Advisory Corp Purchases 29,558 Shares of Broadcom Inc. (NASDAQ:AVGO)

Toth Financial Advisory Corp increased its position in Broadcom Inc. (NASDAQ:AVGO) by 899.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,843 shares of the semiconductor manufacturer’s stock after buying an additional 29,558 shares during the period. Toth Financial Advisory Corp’s holdings in Broadcom were worth $5,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Swedbank AB increased its holdings in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Raymond James & Associates increased its holdings in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares during the period. Jennison Associates LLC increased its holdings 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 worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Broadcom by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after purchasing an additional 83,846 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $179.38 on Wednesday. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The firm’s 50 day moving average is $167.61 and its 200-day moving average is $153.88. The firm has a market capitalization of $834.99 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 2.99 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.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 analyst estimates of $12.98 billion. During the same period in the prior year, the business earned $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is 9.12%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their position. 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 ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Rosenblatt Securities dropped their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Morgan Stanley upped their target price 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. 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 stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Company 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.