Pullen Investment Management LLC Buys 2,823 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pullen Investment Management LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 890.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,140 shares of the semiconductor manufacturer’s stock after buying an additional 2,823 shares during the period. Pullen Investment Management LLC’s holdings in Broadcom were worth $542,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AVGO. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom during the 1st quarter worth approximately $36,000. Clear Point Advisors Inc. increased its holdings in Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 31 shares in the last quarter. Ruedi Wealth Management Inc. raised its position in Broadcom by 104.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer’s stock valued at $68,000 after purchasing an additional 26 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its stake in Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after purchasing an additional 15 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group reduced their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Finally, Mizuho increased their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Price Performance

AVGO opened at $179.24 on Wednesday. The stock has a market cap of $834.34 billion, a P/E ratio of 155.86, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $82.72 and a 12 month 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 company has a fifty day simple moving average of $168.53 and a 200 day simple moving average of $155.27.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the business posted $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio is currently 184.35%.

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.