Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 647.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,350 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,367 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in Broadcom were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FORVIS Wealth Advisors LLC grew its position in Broadcom by 39.4% in the first quarter. FORVIS Wealth Advisors LLC now owns 944 shares of the semiconductor manufacturer’s stock valued at $1,251,000 after acquiring an additional 267 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Broadcom by 56.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,823 shares of the semiconductor manufacturer’s stock valued at $14,345,000 after purchasing an additional 3,898 shares during the period. Hardy Reed LLC acquired a new stake in Broadcom during the 1st quarter valued at $232,000. Avior Wealth Management LLC increased its stake in Broadcom by 24.9% during the 1st quarter. Avior Wealth Management LLC now owns 3,074 shares of the semiconductor manufacturer’s stock worth $4,075,000 after buying an additional 612 shares during the period. Finally, Prosperity Consulting Group LLC lifted its holdings in Broadcom by 65.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 3,411 shares of the semiconductor manufacturer’s stock worth $4,522,000 after buying an additional 1,353 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction 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 transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated 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 directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was 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 available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVGO. UBS Group dropped their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Two equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Performance

AVGO stock opened at $169.77 on Friday. Broadcom Inc. has a 1 year low of $83.26 and a 1 year high of $186.42. The stock has a market capitalization of $790.26 billion, a price-to-earnings ratio of 147.63, a PEG ratio of 2.99 and a beta of 1.17. 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 stock’s fifty day moving average is $168.89 and its two-hundred day moving average is $155.80.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm posted $0.95 EPS. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.25%. Broadcom’s payout ratio is currently 184.35%.

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.