Independent Solutions Wealth Management LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Independent Solutions Wealth Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 846.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,136 shares of the semiconductor manufacturer’s stock after purchasing an additional 43,947 shares during the quarter. Broadcom comprises about 1.9% of Independent Solutions Wealth Management LLC’s portfolio, making the stock its 14th largest holding. Independent Solutions Wealth Management LLC’s holdings in Broadcom were worth $8,476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AVGO. Richardson Financial Services Inc. raised its position in Broadcom by 2.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after purchasing an additional 59 shares during the last quarter. Delta Investment Management LLC raised its stake in Broadcom by 14.9% during the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Broadcom by 6.2% during the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock worth $1,856,000 after purchasing an additional 67 shares during the period. Zimmermann Investment Management & Planning LLC lifted its stake in shares of Broadcom by 4.0% in the 2nd quarter. Zimmermann Investment Management & Planning LLC now owns 1,755 shares of the semiconductor manufacturer’s stock worth $2,818,000 after acquiring an additional 68 shares during the period. Finally, Decatur Capital Management Inc. boosted its holdings in shares of Broadcom by 2.2% in the second quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock valued at $5,083,000 after acquiring an additional 68 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 11.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,880 shares of company stock valued at $41,131,686 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 2.0 %

AVGO stock traded down $4.40 during mid-day trading on Thursday, hitting $219.22. The stock had a trading volume of 25,025,462 shares, compared to its average volume of 30,042,539. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 190.46, a PEG ratio of 2.15 and a beta of 1.13. The company has a fifty day moving average of $178.05 and a 200 day moving average of $166.48. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $251.88. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $220.54.

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.