Jackson Wealth Management LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Jackson Wealth Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,623.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 182,127 shares of the semiconductor manufacturer’s stock after buying an additional 171,559 shares during the quarter. Broadcom comprises approximately 3.8% of Jackson Wealth Management LLC’s holdings, making the stock its 7th largest holding. Jackson Wealth Management LLC’s holdings in Broadcom were worth $31,417,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AVGO. AXA S.A. raised its stake in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares in the last quarter. Whittier Trust Co. boosted its position in Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after acquiring an additional 623,983 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock valued at $13,624,000 after acquiring an additional 71,181 shares during the period. Godsey & Gibb Inc. raised its position in shares of Broadcom by 887.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock worth $31,166,000 after acquiring an additional 162,366 shares in the last quarter. Finally, Renaissance Investment Group LLC boosted its position in Broadcom by 851.2% during the third quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock valued at $20,867,000 after purchasing an additional 108,251 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction 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 sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was 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 valued at $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities lowered their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $200.00 to $210.00 and gave the stock 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Price Performance

NASDAQ:AVGO opened at $173.00 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The stock’s 50-day moving average price is $168.18 and its 200-day moving average price is $154.68. The stock has a market capitalization of $805.29 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business 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 business earned $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. Broadcom’s dividend payout ratio is currently 9.12%.

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.