Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Mowery & Schoenfeld Wealth Management LLC

Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 330 shares of the semiconductor manufacturer’s stock after acquiring an additional 297 shares during the quarter. Mowery & Schoenfeld Wealth Management LLC’s holdings in Broadcom were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVGO. Richardson Capital Management LLC acquired a new stake in shares of Broadcom in the 1st quarter worth $29,000. Delta Asset Management LLC TN grew its holdings in shares of 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 purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Broadcom during the first quarter worth about $36,000. Clear Point Advisors Inc. increased its position in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after purchasing an additional 31 shares during the last quarter. Finally, Ruedi Wealth Management Inc. raised its stake in Broadcom by 104.0% during the first quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer’s stock worth $68,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Rosenblatt Securities reduced 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. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Stock Performance

Shares of Broadcom stock opened at $173.00 on Friday. The business has a 50-day simple moving average of $168.18 and a 200-day simple moving average of $154.68. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The company has a market cap of $805.29 billion, a PE ratio of 7.44, a P/E/G ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm 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%. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm 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 represents a $2.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’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 trade 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 can be accessed through this link. In related news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is owned by insiders.

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.