811 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 811 shares of the semiconductor manufacturer’s stock, valued at approximately $1,381,000.

Several other institutional investors have also added to or reduced their stakes in AVGO. Swedbank AB bought a new stake in shares of Broadcom in the first quarter worth about $2,835,737,000. Vanguard Group Inc. raised its holdings in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. GQG Partners LLC lifted its position in shares of Broadcom by 48.9% in the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after purchasing an additional 983,328 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Broadcom by 54.0% during the 1st quarter. Van ECK Associates Corp now owns 1,282,919 shares of the semiconductor manufacturer’s stock valued at $1,700,394,000 after purchasing an additional 449,791 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. Oppenheimer reduced their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Bank of America restated a “buy” rating and set a $215.00 target price (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Truist Financial increased their price target on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $189.23.

Insider Activity

In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction 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 $126,754,425.60. The disclosure for this sale can be found here. Insiders have sold a total of 233,452 shares of company stock valued at $51,278,838 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $167.47 on Wednesday. Broadcom Inc. has a 12-month low of $80.89 and a 12-month high of $185.16. The company has a market cap of $779.55 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 2.78 and a beta of 1.16. 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’s 50 day moving average is $158.30 and its 200 day moving average is $148.82.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.27%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) 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.