Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,483.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,052 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,733 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Broadcom were worth $871,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Richardson Capital Management LLC acquired a new stake in Broadcom in the 1st quarter valued at $29,000. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at about $36,000. Clear Point Advisors Inc. lifted its position in Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after acquiring an additional 31 shares in the last quarter. Finally, Ruedi Wealth Management Inc. boosted its holdings in Broadcom by 104.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer’s stock worth $68,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, the insider now directly owns 737,330 shares of the company’s stock, 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 at this link. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents 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 valued at $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AVGO shares. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Oppenheimer dropped their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Stock Up 1.0 %

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

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share. On average, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is 9.12%.

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.