Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 770.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,345 shares of the semiconductor manufacturer’s stock after acquiring an additional 95,896 shares during the period. CreativeOne Wealth LLC’s holdings in Broadcom were worth $18,690,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. BNP Paribas raised its stake in Broadcom by 1,311.3% during the 3rd quarter. BNP Paribas now owns 399,897 shares of the semiconductor manufacturer’s stock valued at $68,914,000 after acquiring an additional 371,561 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Broadcom by 2,476.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,870,958 shares of the semiconductor manufacturer’s stock valued at $322,740,000 after purchasing an additional 1,798,340 shares during the period. Cravens & Co Advisors LLC increased its position in shares of Broadcom by 814.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 12,278 shares of the semiconductor manufacturer’s stock valued at $2,118,000 after purchasing an additional 10,935 shares during the period. RiverGlades Family Offices LLC increased its position in shares of Broadcom by 900.0% during the 3rd quarter. RiverGlades Family Offices LLC now owns 1,310 shares of the semiconductor manufacturer’s stock valued at $226,000 after purchasing an additional 1,179 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Broadcom by 877.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 310,009 shares of the semiconductor manufacturer’s stock valued at $53,477,000 after purchasing an additional 278,300 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVGO shares. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted 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. Finally, Rosenblatt Securities decreased their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.96.

Insider Buying and Selling at Broadcom

In other Broadcom news, 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 3.1 %

Shares of AVGO stock opened at $159.67 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 business’s 50 day moving average is $173.57 and its two-hundred day moving average is $161.49. The company has a market cap of $745.75 billion, a PE ratio of 138.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. Equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.33%. Broadcom’s dividend payout ratio is 184.35%.

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.