Northwest Wealth Management LLC Has $271,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Northwest Wealth Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 887.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,570 shares of the semiconductor manufacturer’s stock after buying an additional 1,411 shares during the quarter. Northwest Wealth Management LLC’s holdings in Broadcom were worth $271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lion Street Advisors LLC grew its position in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after purchasing an additional 6 shares during the last quarter. Optimum Investment Advisors lifted its stake in Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock worth $2,262,000 after purchasing an additional 8 shares during the last quarter. Anderson Hoagland & Co. lifted its stake in Broadcom by 0.3% during the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock worth $4,623,000 after purchasing an additional 9 shares during the last quarter. Wealth Group Ltd lifted its stake in Broadcom by 6.0% during the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after purchasing an additional 10 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of Broadcom by 1.4% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction 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 approximately $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $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 three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $170.38 on Friday. 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. The firm’s fifty day simple moving average is $171.93 and its 200-day simple moving average is $158.86. The stock has a market cap of $795.77 billion, a PE ratio of 148.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. Analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.24%. Broadcom’s dividend payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Rosenblatt Securities lowered 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, Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Company 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.