Lebenthal Global Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 1,989.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,716 shares of the semiconductor manufacturer’s stock after buying an additional 2,586 shares during the period. Lebenthal Global Advisors LLC’s holdings in Broadcom were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Broadcom by 3.0% during the 1st 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 in the last quarter. Swedbank AB boosted its stake in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Broadcom by 226,130.5% during 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 acquiring an additional 8,242,455 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in shares of Broadcom by 156,028.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after acquiring an additional 7,280,304 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
Broadcom Trading Down 0.2 %
AVGO stock opened at $168.55 on Tuesday. The company has a market cap of $787.23 billion, a price-to-earnings ratio of 146.44, a PEG ratio of 2.73 and a beta of 1.17. 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 simple moving average of $169.12 and a 200-day simple moving average of $156.30. Broadcom Inc. has a 52 week low of $87.12 and a 52 week high of $186.42.
Broadcom Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.26%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.19%.
Insider Activity at Broadcom
In related 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 completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the firm’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 in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were 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 of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on AVGO shares. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Cantor Fitzgerald upped 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. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.79.
Read Our Latest Report on AVGO
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.
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