Ullmann Wealth Partners Group LLC Has $545,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Ullmann Wealth Partners Group LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 982.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,161 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,869 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Broadcom were worth $545,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Lockerman Financial Group Inc. lifted its stake in shares of Broadcom by 995.4% during the 3rd quarter. Lockerman Financial Group Inc. now owns 3,560 shares of the semiconductor manufacturer’s stock valued at $614,000 after buying an additional 3,235 shares in the last quarter. Peak Financial Management Inc. increased its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Peak Financial Management Inc. now owns 1,550 shares of the semiconductor manufacturer’s stock worth $267,000 after buying an additional 1,395 shares during the last quarter. Cabot Wealth Management Inc. bought a new position in shares of Broadcom in the 3rd quarter worth $212,000. RDA Financial Network grew its holdings in shares of Broadcom by 943.4% during the 3rd quarter. RDA Financial Network now owns 52,224 shares of the semiconductor manufacturer’s stock valued at $9,009,000 after purchasing an additional 47,219 shares during the last quarter. Finally, Watershed Private Wealth LLC grew its holdings in Broadcom by 963.4% in the 3rd quarter. Watershed Private Wealth LLC now owns 3,084 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 2,794 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. UBS Group lowered their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. The Goldman Sachs Group increased their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Oppenheimer reduced their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Trading Down 3.5 %

Shares of AVGO opened at $175.98 on Wednesday. The stock has a fifty day moving average price of $164.36 and a two-hundred day moving average price of $152.27. The company has a market cap of $819.17 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. 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 posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 analysts’ expectations of $12.98 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. 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 yield of 1.20%. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Activity

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This 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 can be accessed through this link. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This 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 at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,130 shares of company stock valued at $50,646,622. 2.00% of the stock is owned by insiders.

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.