Daymark Wealth Partners LLC Has $25.47 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Daymark Wealth Partners LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 914.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,659 shares of the semiconductor manufacturer’s stock after buying an additional 133,109 shares during the quarter. Broadcom comprises 0.8% of Daymark Wealth Partners LLC’s holdings, making the stock its 25th biggest position. Daymark Wealth Partners LLC’s holdings in Broadcom were worth $25,471,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Saxon Interests Inc. grew its position in shares of Broadcom by 786.7% during the 3rd quarter. Saxon Interests Inc. now owns 13,647 shares of the semiconductor manufacturer’s stock worth $2,354,000 after purchasing an additional 12,108 shares in the last quarter. Peddock Capital Advisors LLC raised its stake in Broadcom by 932.3% in the third quarter. Peddock Capital Advisors LLC now owns 12,945 shares of the semiconductor manufacturer’s stock valued at $2,233,000 after purchasing an additional 11,691 shares in the last quarter. Eagle Wealth Strategies LLC grew its stake in Broadcom by 908.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,754 shares of the semiconductor manufacturer’s stock worth $475,000 after buying an additional 2,481 shares in the last quarter. Connective Portfolio Management LLC increased its holdings in Broadcom by 900.0% in the 3rd quarter. Connective Portfolio Management LLC now owns 6,800 shares of the semiconductor manufacturer’s stock valued at $1,139,000 after buying an additional 6,120 shares during the period. Finally, Perkins Coie Trust Co raised its position in shares of Broadcom by 896.9% in the 3rd quarter. Perkins Coie Trust Co now owns 36,846 shares of the semiconductor manufacturer’s stock valued at $6,356,000 after buying an additional 33,150 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the completion of the transaction, the chief executive officer now owns 1,151,910 shares of the company’s stock, valued at approximately $198,497,131.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. 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 in the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Evercore ISI raised their price objective on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. UBS Group decreased their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. 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 stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $190.29.

Broadcom Stock Up 0.8 %

Shares of NASDAQ AVGO traded up $1.53 during trading on Wednesday, hitting $182.26. The stock had a trading volume of 6,338,037 shares, compared to its average volume of 30,937,783. 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 fifty day moving average of $160.88 and a two-hundred day moving average of $150.57. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $185.16. The company has a market capitalization of $848.40 billion, a PE ratio of 7.78, a PEG ratio of 2.78 and a beta of 1.17.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio 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.