Meeder Advisory Services Inc. Has $15.10 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Meeder Advisory Services Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 931.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,561 shares of the semiconductor manufacturer’s stock after buying an additional 79,071 shares during the quarter. Broadcom comprises about 1.0% of Meeder Advisory Services Inc.’s holdings, making the stock its 20th largest position. Meeder Advisory Services Inc.’s holdings in Broadcom were worth $15,104,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Semus Wealth Partners LLC raised its holdings in shares of Broadcom by 3,453.2% in the 3rd quarter. Semus Wealth Partners LLC now owns 4,477 shares of the semiconductor manufacturer’s stock worth $772,000 after acquiring an additional 4,351 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Broadcom in the 3rd quarter worth $55,000. Napa Wealth Management bought a new position in shares of Broadcom during the third quarter valued at about $3,613,000. CAP Partners LLC boosted its holdings in Broadcom by 891.0% during the third quarter. CAP Partners LLC now owns 2,765 shares of the semiconductor manufacturer’s stock worth $477,000 after purchasing an additional 2,486 shares during the last quarter. Finally, Tidemark LLC increased its stake in Broadcom by 961.9% in the 3rd quarter. Tidemark LLC now owns 1,030 shares of the semiconductor manufacturer’s stock valued at $178,000 after buying an additional 933 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVGO shares. Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Performance

NASDAQ AVGO opened at $163.25 on Thursday. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business has a 50 day moving average price of $173.78 and a 200 day moving average price of $160.09. The company has a market capitalization of $762.47 billion, a P/E ratio of 141.96, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. Sell-side 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 $0.53 dividend. The ex-dividend date 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 yield of 1.30%. Broadcom’s dividend payout ratio (DPR) is 184.35%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred 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 completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by company insiders.

About Broadcom

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.