Greenleaf Trust Has $18.54 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Greenleaf Trust increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 919.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,469 shares of the semiconductor manufacturer’s stock after acquiring an additional 96,932 shares during the period. Greenleaf Trust’s holdings in Broadcom were worth $18,538,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AVGO. AXA S.A. grew its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Whittier Trust Co. grew its position in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the last quarter. Signaturefd LLC increased its stake in shares of Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock valued at $13,624,000 after buying an additional 71,181 shares during the period. Godsey & Gibb Inc. raised its position in shares of Broadcom by 887.0% during the third quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock worth $31,166,000 after acquiring an additional 162,366 shares during the last quarter. Finally, Renaissance Investment Group LLC lifted its stake in shares of Broadcom by 851.2% in the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after acquiring an additional 108,251 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $173.00 on Friday. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. 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 has a market cap of $805.29 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The stock’s fifty day simple moving average is $168.03 and its two-hundred day simple moving average is $154.41.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, 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 given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating 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. Rosenblatt Securities cut their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

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.