Inspirion Wealth Advisors LLC Has $302,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Inspirion Wealth Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 936.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,752 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,583 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Broadcom were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVGO. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new position in Broadcom during the first quarter valued at approximately $29,000. Delta Asset Management LLC TN lifted its stake in 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 acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom in the first quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth $43,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO traded up $4.75 during trading on Friday, reaching $176.64. 17,941,387 shares of the company traded hands, compared to its average volume of 31,198,639. Broadcom Inc. has a 1-year low of $81.17 and a 1-year high of $185.16. The company has a market cap of $822.24 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 2.78 and a beta of 1.17. The stock’s 50 day moving average price is $159.64 and its two-hundred day moving average price is $149.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating 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 firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Piper Sandler upped their price target on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Wells Fargo & Company upped their target price on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 13th. Finally, StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. 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.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,452 shares of company stock worth $52,950,238. Insiders own 2.00% of the company’s stock.

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.