Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Plan Group Financial LLC

Plan Group Financial LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 983.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,599 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,990 shares during the period. Plan Group Financial LLC’s holdings in Broadcom were worth $1,138,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Elevated Capital Advisors LLC raised its position in shares of Broadcom by 890.8% in the 3rd quarter. Elevated Capital Advisors LLC now owns 8,600 shares of the semiconductor manufacturer’s stock worth $1,483,000 after buying an additional 7,732 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Broadcom by 1,762.9% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 189,974 shares of the semiconductor manufacturer’s stock worth $32,771,000 after buying an additional 179,776 shares during the period. Marietta Wealth Management LLC raised its position in shares of Broadcom by 886.5% in the 3rd quarter. Marietta Wealth Management LLC now owns 68,058 shares of the semiconductor manufacturer’s stock worth $11,740,000 after buying an additional 61,159 shares during the period. Macroview Investment Management LLC raised its position in shares of Broadcom by 910.4% in the 3rd quarter. Macroview Investment Management LLC now owns 485 shares of the semiconductor manufacturer’s stock worth $84,000 after buying an additional 437 shares during the period. Finally, Lazari Capital Management Inc. raised its position in shares of Broadcom by 789.8% in the 3rd quarter. Lazari Capital Management Inc. now owns 10,251 shares of the semiconductor manufacturer’s stock worth $1,768,000 after buying an additional 9,099 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Stock Up 1.0 %

NASDAQ:AVGO opened at $173.00 on Friday. The firm 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. The stock has a 50 day moving average of $168.03 and a 200-day moving average of $154.41. Broadcom Inc. has a 52 week low of $81.83 and a 52 week 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, beating the consensus estimate of $1.20 by $0.04. The company 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 business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current 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. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is 9.12%.

Insider Activity

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

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.