IHT Wealth Management LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

IHT Wealth Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 956.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 71,274 shares of the semiconductor manufacturer’s stock after purchasing an additional 64,525 shares during the period. IHT Wealth Management LLC’s holdings in Broadcom were worth $12,262,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC boosted its holdings in Broadcom by 931.8% in the third quarter. Ingalls & Snyder LLC now owns 40,642 shares of the semiconductor manufacturer’s stock valued at $7,011,000 after purchasing an additional 36,703 shares during the period. Intrepid Capital Management Inc. raised its position in Broadcom by 1,057.1% in the 3rd quarter. Intrepid Capital Management Inc. now owns 1,782 shares of the semiconductor manufacturer’s stock valued at $307,000 after purchasing an additional 1,628 shares in the last quarter. Insight Holdings Group LLC grew its position in shares of Broadcom by 940.0% during the third quarter. Insight Holdings Group LLC now owns 36,400 shares of the semiconductor manufacturer’s stock worth $6,279,000 after buying an additional 32,900 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Broadcom by 950.1% during the third quarter. Integrated Wealth Concepts LLC now owns 117,661 shares of the semiconductor manufacturer’s stock worth $20,297,000 after buying an additional 106,456 shares during the period. Finally, Investment Management Corp of Ontario raised its holdings in Broadcom by 1,375.6% in the third quarter. Investment Management Corp of Ontario now owns 165,612 shares of the semiconductor manufacturer’s stock valued at $28,568,000 after acquiring an additional 154,389 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,280 shares of the company’s 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 sale, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’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 owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. 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 ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. The Goldman Sachs Group increased their price objective 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. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.96.

Broadcom Price Performance

AVGO traded up $0.95 on Tuesday, hitting $167.46. 2,642,182 shares of the company were exchanged, compared to its average volume of 28,959,877. The business’s fifty day moving average is $173.39 and its 200 day moving average is $161.69. The firm has a market capitalization of $782.14 billion, a P/E ratio of 144.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. 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 Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is 184.19%.

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.