Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Modera Wealth Management LLC

Modera Wealth Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 852.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 440,582 shares of the semiconductor manufacturer’s stock after acquiring an additional 394,327 shares during the quarter. Broadcom comprises 1.0% of Modera Wealth Management LLC’s holdings, making the stock its 26th largest holding. Modera Wealth Management LLC’s holdings in Broadcom were worth $76,000,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AXA S.A. grew its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after buying an additional 7,608 shares in the last quarter. Whittier Trust Co. grew its stake in 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 purchasing an additional 623,983 shares in the last quarter. Signaturefd LLC grew its stake in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after purchasing an additional 71,181 shares in the last quarter. Godsey & Gibb Inc. grew its stake in Broadcom by 887.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock worth $31,166,000 after purchasing an additional 162,366 shares in the last quarter. Finally, Renaissance Investment Group LLC grew its stake in Broadcom by 851.2% during the 3rd quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after purchasing an additional 108,251 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was 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 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $179.24 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The business’s 50 day moving average is $168.53 and its two-hundred day moving average is $155.27. Broadcom Inc. has a 12-month low of $82.72 and a 12-month high of $186.42. The stock has a market capitalization of $834.34 billion, a price-to-earnings ratio of 155.86, a PEG ratio of 2.99 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, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company 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 represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.35%.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Oppenheimer lowered their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Truist Financial boosted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Two 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. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $191.54.

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.