Ballentine Partners LLC Acquires 68,432 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ballentine Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 929.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,791 shares of the semiconductor manufacturer’s stock after purchasing an additional 68,432 shares during the quarter. Ballentine Partners LLC’s holdings in Broadcom were worth $13,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kowal Investment Group LLC grew its stake in Broadcom by 9.4% in the first quarter. Kowal Investment Group LLC now owns 850 shares of the semiconductor manufacturer’s stock valued at $1,127,000 after purchasing an additional 73 shares during the last quarter. Little House Capital LLC boosted its holdings in shares of Broadcom by 22.6% in the 1st quarter. Little House Capital LLC now owns 4,205 shares of the semiconductor manufacturer’s stock valued at $5,573,000 after buying an additional 774 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in shares of Broadcom by 5.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,611 shares of the semiconductor manufacturer’s stock worth $6,111,000 after acquiring an additional 244 shares in the last quarter. CCG Wealth Management LLC lifted its position in Broadcom by 13.5% during the first quarter. CCG Wealth Management LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $278,000 after acquiring an additional 25 shares during the last quarter. Finally, Claro Advisors LLC boosted its stake in Broadcom by 39.6% in the first quarter. Claro Advisors LLC now owns 3,700 shares of the semiconductor manufacturer’s stock valued at $4,904,000 after acquiring an additional 1,050 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 1.0 %

AVGO stock opened at $173.00 on Monday. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s fifty day moving average is $168.18 and its 200 day moving average is $154.68. The firm 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 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 return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. On average, research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current 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 is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Analyst Ratings Changes

Several brokerages have recently commented on AVGO. Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note 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 issued a strong buy rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the firm’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 transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company 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.