Nicholson Wealth Management Group LLC Invests $333,000 in Broadcom Inc. (NASDAQ:AVGO)

Nicholson Wealth Management Group LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, HoldingsChannel.com reports. The fund bought 1,932 shares of the semiconductor manufacturer’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lion Street Advisors LLC raised its position in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after acquiring an additional 6 shares in the last quarter. Ascent Wealth Partners LLC raised its position in shares of Broadcom by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after acquiring an additional 8 shares in the last quarter. O Dell Group LLC raised its position in shares of Broadcom by 2.3% during the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after acquiring an additional 8 shares in the last quarter. Hudson Value Partners LLC raised its position in shares of Broadcom by 2.7% during the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock valued at $408,000 after acquiring an additional 8 shares in the last quarter. Finally, Renasant Bank raised its position in shares of Broadcom by 1.0% during the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock valued at $1,040,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer lowered their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. 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 stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Trading Up 1.0 %

Shares of AVGO stock opened at $173.00 on Monday. The stock has a 50-day simple moving average of $168.18 and a 200 day simple moving average of $154.68. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The stock has a market capitalization of $805.29 billion, a P/E ratio of 7.44, a P/E/G ratio of 2.99 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.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 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 quarter last year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value 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 approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Company 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.