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

Tradition Wealth Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 863.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,715 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,462 shares during the quarter. Tradition Wealth Management LLC’s holdings in Broadcom were worth $3,746,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AVGO. Bank & Trust Co acquired a new position in Broadcom during the 2nd quarter valued at approximately $153,000. Quent Capital LLC increased its stake in Broadcom by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,286 shares of the semiconductor manufacturer’s stock valued at $2,064,000 after purchasing an additional 87 shares in the last quarter. Trust Co. of Toledo NA OH increased its stake in Broadcom by 2.7% during 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 purchasing an additional 42 shares in the last quarter. Boltwood Capital Management acquired a new position in Broadcom during the 2nd quarter valued at approximately $225,000. Finally, Burns Matteson Capital Management LLC acquired a new position in Broadcom during the 2nd quarter valued at approximately $233,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $162.08 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $757.01 billion, a price-to-earnings ratio of 140.82, a PEG ratio of 1.88 and a beta of 1.17. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm’s fifty day simple moving average is $173.39 and its two-hundred day simple moving average is $161.69.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 47.3% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVGO. Rosenblatt Securities cut 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. Truist Financial increased their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

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.