Boit C F David Acquires 25,875 Shares of Broadcom Inc. (NASDAQ:AVGO)

Boit C F David boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,750 shares of the semiconductor manufacturer’s stock after buying an additional 25,875 shares during the period. Broadcom makes up 2.4% of Boit C F David’s investment portfolio, making the stock its 13th biggest holding. Boit C F David’s holdings in Broadcom were worth $4,906,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVGO. Vanguard Group Inc. boosted its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Jennison Associates LLC lifted its stake in Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares in the last quarter. Legal & General Group Plc lifted its stake in Broadcom by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after purchasing an additional 83,846 shares in the last quarter. GQG Partners LLC boosted its holdings in Broadcom by 48.9% in the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after purchasing an additional 983,328 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Broadcom by 826.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after purchasing an additional 2,643,845 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.9 %

Shares of AVGO stock opened at $175.08 on Tuesday. 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 business has a 50-day moving average of $159.64 and a 200 day moving average of $149.81. The stock has a market capitalization of $814.98 billion, a PE ratio of 7.53, a P/E/G ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $185.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is presently 9.12%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Citigroup reiterated a “buy” rating and issued a $156.00 price objective on shares of Broadcom in a research report on Tuesday, June 11th. Wells Fargo & Company raised their price target on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Evercore ISI upped their price objective on shares of Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. 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. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated 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 directly owns 138,191 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 263,452 shares of company stock valued at $56,396,638. 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.