Talbot Financial LLC Invests $8.93 Million in Broadcom Inc. (NASDAQ:AVGO)

Talbot Financial LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 51,745 shares of the semiconductor manufacturer’s stock, valued at approximately $8,926,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cape ANN Savings Bank increased its stake in Broadcom by 1,240.8% during the 3rd quarter. Cape ANN Savings Bank now owns 1,743 shares of the semiconductor manufacturer’s stock valued at $301,000 after buying an additional 1,613 shares during the period. Brookstone Capital Management boosted its holdings in shares of Broadcom by 9.5% in the third quarter. Brookstone Capital Management now owns 38,803 shares of the semiconductor manufacturer’s stock valued at $6,693,000 after acquiring an additional 3,380 shares in the last quarter. Olistico Wealth LLC increased its stake in shares of Broadcom by 839.9% during the third quarter. Olistico Wealth LLC now owns 10,583 shares of the semiconductor manufacturer’s stock valued at $1,826,000 after acquiring an additional 9,457 shares during the period. Trust Co of Kansas bought a new stake in Broadcom during the third quarter worth approximately $200,000. Finally, Reliant Investment Management LLC lifted its position in Broadcom by 906.1% in the third quarter. Reliant Investment Management LLC now owns 81,975 shares of the semiconductor manufacturer’s stock worth $14,141,000 after purchasing an additional 73,827 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly 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. Insiders sold 263,452 shares of company stock valued at $56,396,638 over the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Finally, UBS Group dropped their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $190.29.

Broadcom Stock Up 3.2 %

AVGO opened at $180.73 on Wednesday. The company has a market capitalization of $841.28 billion, a PE ratio of 7.77, a price-to-earnings-growth 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. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $185.16. The business has a 50-day moving average of $160.14 and a 200-day moving average of $150.17.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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. This represents a $2.12 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Broadcom 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.