Strong Tower Advisory Services Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Strong Tower Advisory Services lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 961.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,083 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,850 shares during the quarter. Strong Tower Advisory Services’ holdings in Broadcom were worth $2,257,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Guild Investment Management Inc. boosted its position in Broadcom by 900.0% during the 3rd quarter. Guild Investment Management Inc. now owns 5,600 shares of the semiconductor manufacturer’s stock worth $966,000 after purchasing an additional 5,040 shares during the period. BWM Planning LLC acquired a new position in shares of Broadcom during the third quarter worth about $623,000. Sarasin & Partners LLP boosted its position in shares of Broadcom by 545.3% in the third quarter. Sarasin & Partners LLP now owns 1,145,108 shares of the semiconductor manufacturer’s stock worth $197,531,000 after buying an additional 967,655 shares during the period. Towerpoint Wealth LLC boosted its position in shares of Broadcom by 767.8% in the third quarter. Towerpoint Wealth LLC now owns 1,319 shares of the semiconductor manufacturer’s stock worth $228,000 after buying an additional 1,167 shares during the period. Finally, Independence Bank of Kentucky grew its stake in shares of Broadcom by 972.9% in the third quarter. Independence Bank of Kentucky now owns 13,690 shares of the semiconductor manufacturer’s stock valued at $2,362,000 after buying an additional 12,414 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 Charlie B. Kawwas sold 25,200 shares of the firm’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 completion of the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,130 shares of company stock worth $50,646,622. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.29.

Broadcom Stock Performance

AVGO stock opened at $181.48 on Friday. The stock’s fifty day moving average is $162.91 and its two-hundred day moving average is $151.64. The stock has a market capitalization of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. 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 1 year low of $81.83 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business posted $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 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.