Strategic Wealth Investment Group LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Strategic Wealth Investment Group LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 74,864.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,949 shares of the semiconductor manufacturer’s stock after acquiring an additional 107,805 shares during the quarter. Broadcom accounts for about 1.9% of Strategic Wealth Investment Group LLC’s investment portfolio, making the stock its 14th largest holding. Strategic Wealth Investment Group LLC’s holdings in Broadcom were worth $18,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AVGO. FORVIS Wealth Advisors LLC lifted its holdings in Broadcom by 39.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 944 shares of the semiconductor manufacturer’s stock worth $1,251,000 after buying an additional 267 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Broadcom by 56.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,823 shares of the semiconductor manufacturer’s stock worth $14,345,000 after buying an additional 3,898 shares during the period. Hardy Reed LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $232,000. Avior Wealth Management LLC lifted its holdings in Broadcom by 24.9% in 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 during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.9 %

Broadcom stock opened at $169.77 on Friday. The firm has a market cap 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 stock has a fifty day simple moving average of $168.89 and a two-hundred day simple moving average of $155.80. Broadcom Inc. has a 12 month low of $83.26 and a 12 month 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.

Broadcom (NASDAQ:AVGO) last posted its 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. The business had revenue of $13.07 billion during 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%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS. Equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 184.35%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Rosenblatt Securities decreased their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was 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 in the company, 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 available at this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. Insiders own 2.00% of the company’s stock.

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.