Paulson Wealth Management Inc. Buys 7,419 Shares of Broadcom Inc. (NASDAQ:AVGO)

Paulson Wealth Management Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 910.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,234 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,419 shares during the quarter. Paulson Wealth Management Inc.’s holdings in Broadcom were worth $1,420,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Swedbank AB grew its position in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Van ECK Associates Corp grew its position in Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after purchasing an additional 11,453,554 shares during the period. Raymond James & Associates grew its position in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Broadcom by 908.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer’s stock valued at $1,962,029,000 after purchasing an additional 10,245,786 shares during the period. Finally, National Pension Service grew its position in Broadcom by 1,045.4% in the 3rd quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock valued at $1,427,120,000 after purchasing an additional 7,550,878 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AVGO shares. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Price Performance

NASDAQ AVGO opened at $164.84 on Friday. The company has a market cap of $769.90 billion, a PE ratio of 143.34, a price-to-earnings-growth ratio of 2.04 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 company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s 50-day simple moving average is $172.29 and its two-hundred day simple moving average is $159.14.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 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 in the prior year, the firm earned $0.95 earnings per share. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.35%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated 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 sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated 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 approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

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.