CreativeOne Wealth LLC Buys 5,952 Shares of Broadcom Inc. (NASDAQ:AVGO)

CreativeOne Wealth LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 91.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,449 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,952 shares during the quarter. Broadcom makes up approximately 1.0% of CreativeOne Wealth LLC’s holdings, making the stock its 19th largest position. CreativeOne Wealth LLC’s holdings in Broadcom were worth $19,988,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Legend Financial Advisors Inc. lifted its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth about $29,000. Delta Asset Management LLC TN grew its position in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Broadcom in the first quarter worth about $36,000. Finally, Ulland Investment Advisors LLC purchased a new position in Broadcom in the first quarter worth about $37,000. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVGO. Bank of America restated a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Broadcom in a report on Monday, June 24th. 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. Melius began coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Broadcom in a research report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.23.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on 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 transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following 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. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,702 shares of company stock worth $25,206,941. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.1 %

Shares of NASDAQ:AVGO opened at $172.94 on Tuesday. The business has a 50 day simple moving average of $156.84 and a two-hundred day simple moving average of $147.14. 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 firm has a market capitalization of $805.01 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 1 year low of $80.44 and a 1 year high of $185.16.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This is a positive change 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 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.