Quent Capital LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Quent Capital LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 998.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,132 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,846 shares during the quarter. Quent Capital LLC’s holdings in Broadcom were worth $2,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Jennison Associates LLC raised its position in Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Broadcom by 2.2% during the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after purchasing an additional 83,846 shares during the last quarter. GQG Partners LLC lifted its holdings 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 valued at $3,966,730,000 after buying an additional 983,328 shares during the period. Finally, Swedbank AB purchased a new stake in Broadcom in the 1st quarter worth approximately $2,835,737,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Sanford C. Bernstein lifted their target price on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Rosenblatt Securities cut their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $189.23.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,452 shares of company stock worth $52,950,238. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 2.8 %

NASDAQ:AVGO traded up $4.75 during mid-day trading on Friday, reaching $176.64. The company’s stock had a trading volume of 17,941,387 shares, compared to its average volume of 31,198,639. The firm has a market capitalization of $822.24 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The stock has a fifty day moving average of $159.64 and a 200-day moving average of $149.81. Broadcom Inc. has a 1 year low of $81.17 and a 1 year high of $185.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared 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 of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 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.