Axiom Advisory LLC Has $616,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Axiom Advisory LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 787.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,354 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,976 shares during the period. Axiom Advisory LLC’s holdings in Broadcom were worth $616,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. boosted its position in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC bought a new position in shares of Broadcom during the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN raised its holdings in shares of Broadcom by 242.9% in the first 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 acquired a new stake in shares of Broadcom in the first quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth $43,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadcom 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 completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $172.32, for a total value of $3,446,400.00. Following the transaction, the chief executive officer now directly owns 1,151,910 shares of the company’s stock, valued at $198,497,131.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,452 shares of company stock valued at $56,396,638 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 3.2 %

AVGO stock opened at $180.73 on Wednesday. The business’s fifty day moving average price is $160.14 and its two-hundred day moving average price is $150.17. The stock has a market capitalization of $841.28 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $185.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is 9.12%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Rosenblatt Securities lowered their price target 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. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, June 13th. Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.29.

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.