True Wealth Design LLC Has $115,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

True Wealth Design LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3,061.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 664 shares of the semiconductor manufacturer’s stock after acquiring an additional 643 shares during the period. True Wealth Design LLC’s holdings in Broadcom were worth $115,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bank & Trust Co bought a new position in Broadcom during the second quarter worth $153,000. Quent Capital LLC increased its position in Broadcom by 7.3% in the 2nd quarter. Quent Capital LLC now owns 1,286 shares of the semiconductor manufacturer’s stock valued at $2,064,000 after buying an additional 87 shares in the last quarter. Trust Co. of Toledo NA OH increased its position in Broadcom by 2.7% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 1,593 shares of the semiconductor manufacturer’s stock valued at $2,558,000 after buying an additional 42 shares in the last quarter. Boltwood Capital Management bought a new position in Broadcom in the second quarter worth approximately $225,000. Finally, Burns Matteson Capital Management LLC bought a new position in Broadcom in the second quarter worth approximately $233,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Truist Financial boosted their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $162.08 on Friday. 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 fifty day simple moving average of $173.39 and a two-hundred day simple moving average of $161.69. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The firm has a market cap of $757.01 billion, a price-to-earnings ratio of 140.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. Analysts anticipate 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 given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.