Bruce G. Allen Investments LLC Has $689,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Bruce G. Allen Investments LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 848.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,993 shares of the semiconductor manufacturer’s stock after buying an additional 3,572 shares during the quarter. Broadcom comprises 0.5% of Bruce G. Allen Investments LLC’s investment portfolio, making the stock its 25th largest holding. Bruce G. Allen Investments LLC’s holdings in Broadcom were worth $689,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Legend Financial Advisors Inc. raised its stake in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Broadcom in the first quarter valued at $29,000. Delta Asset Management LLC TN raised its stake 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 in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom in the first quarter valued at $36,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $43,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 2.9 %

NASDAQ AVGO opened at $185.95 on Thursday. The firm has a market cap of $865.57 billion, a P/E ratio of 8.00, a P/E/G ratio of 2.78 and a beta of 1.17. 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 stock’s 50-day moving average is $160.88 and its 200-day moving average is $150.57. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last released 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. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed 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 an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.14%. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,230 shares of company stock worth $47,190,190. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Piper Sandler increased their target price on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. 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 company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $190.29.

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.