IVC Wealth Advisors LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

IVC Wealth Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 979.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,397 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,175 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Broadcom were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AVGO. Vanguard Group Inc. raised its position in Broadcom by 3.0% in the first 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 stake in shares of Broadcom by 858.7% in 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 in the last quarter. Raymond James & Associates raised its holdings in Broadcom by 855.4% in 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. International Assets Investment Management LLC raised its holdings in Broadcom by 226,130.5% in the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock valued at $1,256,657,000 after purchasing an additional 7,280,304 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 1.5 %

Shares of AVGO opened at $176.64 on Thursday. 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 business has a fifty day moving average of $168.74 and a 200 day moving average of $155.58. The company has a market cap of $822.24 billion, a PE ratio of 153.60, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52-week low of $83.26 and a 52-week high of $186.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. 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 is presently 184.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AVGO shares. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. The Goldman Sachs Group upped their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’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 transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’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 value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was 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 worth $53,540,590 in the last quarter. 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.