Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Hilton Capital Management LLC

Hilton Capital Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,727.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 38,302 shares of the semiconductor manufacturer’s stock after buying an additional 36,206 shares during the period. Hilton Capital Management LLC’s holdings in Broadcom were worth $6,607,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Jennison Associates LLC grew its position in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Swedbank AB grew its holdings in Broadcom by 858.7% during 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 in the last quarter. Swiss National Bank increased its stake in Broadcom by 907.0% during the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after buying an additional 11,822,467 shares during the period. Van ECK Associates Corp lifted its holdings 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 worth $2,203,837,000 after buying an additional 11,453,554 shares in the last quarter. Finally, Raymond James & Associates boosted 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 buying an additional 11,347,563 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. 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 report on Friday, September 6th. Finally, UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Up 0.2 %

AVGO stock opened at $164.23 on Friday. The stock has a market cap of $767.05 billion, a PE ratio of 142.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The firm’s 50-day simple moving average is $173.70 and its 200 day simple moving average is $160.62. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two 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.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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 company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current 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 a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is presently 184.19%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated 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 owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % 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. Company insiders own 2.00% of the company’s stock.

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.