Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 910.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,714 shares of the semiconductor manufacturer’s stock after purchasing an additional 61,916 shares during the quarter. Broadcom accounts for 3.0% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Stokes Capital Advisors LLC’s holdings in Broadcom were worth $11,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Lion Street Advisors LLC grew its holdings in Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after buying an additional 6 shares in the last quarter. Tucker Asset Management LLC grew its holdings in Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after buying an additional 8 shares in the last quarter. Buckley Wealth Management LLC grew its holdings in Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after buying an additional 8 shares in the last quarter. Legend Financial Advisors Inc. grew its holdings in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in Broadcom by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock worth $3,929,000 after buying an additional 8 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AVGO shares. The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. UBS Group cut their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Evercore ISI increased their price objective on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $1.56 during midday trading on Monday, hitting $175.08. The company’s stock had a trading volume of 15,540,297 shares, compared to its average volume of 31,117,604. The stock has a market capitalization of $814.98 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 2.78 and a beta of 1.17. The stock’s 50 day simple moving average is $159.64 and its 200 day simple moving average is $149.81. 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 quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the business posted $0.95 earnings per share. The firm’s revenue was up 47.3% compared to the same quarter last year. As a group, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.21%. 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 (DPR) is presently 9.12%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,151,910 shares in the company, valued at approximately $198,497,131.20. 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 is accessible through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated 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 in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,452 shares of company stock worth $56,396,638. Company insiders own 2.00% of the company’s stock.

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.