Alaska Wealth Advisors Has $418,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Alaska Wealth Advisors raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 902.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,425 shares of the semiconductor manufacturer’s stock after buying an additional 2,183 shares during the quarter. Alaska Wealth Advisors’ holdings in Broadcom were worth $418,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. AXA S.A. lifted its stake in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Catalyst Financial Partners LLC raised its holdings in shares of Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after buying an additional 18,206 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC boosted its stake in Broadcom by 912.6% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock valued at $1,691,000 after buying an additional 8,834 shares in the last quarter. Finally, Signaturefd LLC grew its position in Broadcom by 913.0% in the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock valued at $13,624,000 after acquiring an additional 71,181 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the 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 sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the 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 directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVGO shares. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Cantor Fitzgerald boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Finally, Morgan Stanley raised their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Price Performance

AVGO opened at $170.38 on Friday. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $795.77 billion, a price-to-earnings ratio of 148.03, a P/E/G ratio of 2.07 and a beta of 1.17. The firm’s fifty day moving average price is $171.93 and its two-hundred day moving average price is $158.86.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. Broadcom’s payout ratio is presently 184.19%.

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.