Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 801.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,560 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,054 shares during the period. Gilman Hill Asset Management LLC’s holdings in Broadcom were worth $787,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Legend Financial Advisors Inc. raised its position in Broadcom by 72.7% in the 1st 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 stake in Broadcom in the 1st quarter valued at about $29,000. Delta Asset Management LLC TN raised its position in Broadcom by 242.9% in the 1st 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 purchased a new position in shares of Broadcom in the 1st quarter valued at about $36,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVGO. Bank of America reiterated a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Truist Financial increased their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Oppenheimer dropped their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. 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’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Insider Activity

In related news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 295,130 shares of company stock valued at $50,646,622 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 2.3 %

Broadcom stock opened at $181.48 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average of $162.91 and a two-hundred day moving average of $151.64. The stock has a market capitalization of $844.77 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

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.