Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Altman Advisors Inc.

Altman Advisors Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 895.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,017 shares of the semiconductor manufacturer’s stock after buying an additional 18,006 shares during the quarter. Broadcom makes up about 1.5% of Altman Advisors Inc.’s holdings, making the stock its 11th biggest position. Altman Advisors Inc.’s holdings in Broadcom were worth $3,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AVGO. Bellwether Advisors LLC grew its stake in shares of Broadcom by 1,014.1% in the 3rd quarter. Bellwether Advisors LLC now owns 89,865 shares of the semiconductor manufacturer’s stock valued at $15,502,000 after buying an additional 81,799 shares in the last quarter. Carlyle Group Inc. grew its position in Broadcom by 349.9% in the third quarter. Carlyle Group Inc. now owns 3,397 shares of the semiconductor manufacturer’s stock worth $586,000 after acquiring an additional 2,642 shares in the last quarter. Darwin Wealth Management LLC increased its stake in shares of Broadcom by 866.1% during the 3rd quarter. Darwin Wealth Management LLC now owns 15,883 shares of the semiconductor manufacturer’s stock worth $2,740,000 after purchasing an additional 14,239 shares during the last quarter. Cedar Wealth Management LLC raised its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares in the last quarter. Finally, MTM Investment Management LLC lifted its stake in shares of Broadcom by 902.0% in the 3rd quarter. MTM Investment Management LLC now owns 17,675 shares of the semiconductor manufacturer’s stock valued at $3,122,000 after purchasing an additional 15,911 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.2 %

Shares of AVGO stock opened at $164.23 on Friday. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. 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 stock has a fifty day moving average price of $173.70 and a 200 day moving average price of $160.62. The stock has a market cap of $767.05 billion, a P/E ratio of 142.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during 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 firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed 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 a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.35%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target 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.