Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 903.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 110,480 shares of the semiconductor manufacturer’s stock after acquiring an additional 99,473 shares during the period. Broadcom accounts for 10.5% of Glass Wealth Management Co LLC’s holdings, making the stock its largest position. Glass Wealth Management Co LLC’s holdings in Broadcom were worth $19,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Gilbert & Cook Inc. grew its stake in Broadcom by 1,057.9% during the third quarter. Gilbert & Cook Inc. now owns 8,684 shares of the semiconductor manufacturer’s stock worth $1,498,000 after buying an additional 7,934 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after acquiring an additional 11,822,467 shares in the last quarter. S&CO Inc. grew its position in Broadcom by 580.0% during the 3rd quarter. S&CO Inc. now owns 1,700 shares of the semiconductor manufacturer’s stock worth $293,000 after acquiring an additional 1,450 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Broadcom by 1,141.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,288,906 shares of the semiconductor manufacturer’s stock valued at $222,337,000 after purchasing an additional 1,185,092 shares in the last quarter. Finally, Claro Advisors LLC raised its position in Broadcom by 1,046.2% in the 3rd quarter. Claro Advisors LLC now owns 45,870 shares of the semiconductor manufacturer’s stock valued at $7,913,000 after purchasing an additional 41,868 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.2 %

NASDAQ:AVGO opened at $165.35 on Wednesday. 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’s 50-day simple moving average is $173.68 and its 200-day simple moving average is $159.82. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The stock has a market capitalization of $772.28 billion, a PE ratio of 143.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared 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 an increase 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 dividend yield of 1.28%. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AVGO shares. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.