Olistico Wealth LLC Purchases 9,457 Shares of Broadcom Inc. (NASDAQ:AVGO)

Olistico Wealth LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 839.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,583 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,457 shares during the period. Broadcom makes up about 1.1% of Olistico Wealth LLC’s investment portfolio, making the stock its 19th biggest holding. Olistico Wealth LLC’s holdings in Broadcom were worth $1,826,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Trust Co of Kansas bought a new stake in shares of Broadcom during the third quarter worth $200,000. Reliant Investment Management LLC increased its position in shares of Broadcom by 906.1% during the third quarter. Reliant Investment Management LLC now owns 81,975 shares of the semiconductor manufacturer’s stock worth $14,141,000 after acquiring an additional 73,827 shares in the last quarter. City Holding Co. increased its position in shares of Broadcom by 1,464.7% during the third quarter. City Holding Co. now owns 1,330 shares of the semiconductor manufacturer’s stock worth $229,000 after acquiring an additional 1,245 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of Broadcom by 3,504.9% during the third quarter. Artemis Investment Management LLP now owns 559,267 shares of the semiconductor manufacturer’s stock worth $96,474,000 after acquiring an additional 543,753 shares in the last quarter. Finally, Country Trust Bank increased its position in shares of Broadcom by 900.0% during the third quarter. Country Trust Bank now owns 2,840 shares of the semiconductor manufacturer’s stock worth $490,000 after acquiring an additional 2,556 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Bank of America reissued a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Jefferies Financial Group raised their target price on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.29.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred 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 sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 sale, the insider now owns 753,280 shares in the company, 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. In the last three months, insiders have sold 263,452 shares of company stock valued at $56,396,638. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

AVGO stock opened at $180.73 on Wednesday. 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 Inc. has a 12 month low of $81.83 and a 12 month high of $185.16. The firm has a market cap of $841.28 billion, a P/E ratio of 7.77, a P/E/G ratio of 2.78 and a beta of 1.17. The company’s 50-day moving average price is $160.14 and its two-hundred day moving average price is $150.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the firm earned $0.95 EPS. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. Broadcom’s payout ratio is 9.12%.

About Broadcom

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.