Baxter Bros Inc. Acquires 1,746 Shares of Broadcom Inc. (NASDAQ:AVGO)

Baxter Bros Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,940 shares of the semiconductor manufacturer’s stock after buying an additional 1,746 shares during the quarter. Baxter Bros Inc.’s holdings in Broadcom were worth $335,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in Broadcom by 894.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,751,279 shares of the semiconductor manufacturer’s stock valued at $302,096,000 after buying an additional 1,575,182 shares in the last quarter. Indie Asset Partners LLC raised its position in shares of Broadcom by 891.3% in the 3rd quarter. Indie Asset Partners LLC now owns 5,343 shares of the semiconductor manufacturer’s stock worth $922,000 after purchasing an additional 4,804 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Broadcom by 900.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 3,800 shares of the semiconductor manufacturer’s stock worth $656,000 after purchasing an additional 3,420 shares in the last quarter. Prossimo Advisors LLC purchased a new stake in Broadcom during the 3rd quarter valued at about $425,000. Finally, Pure Financial Advisors LLC increased its stake in Broadcom by 1,678.3% during the 3rd quarter. Pure Financial Advisors LLC now owns 9,016 shares of the semiconductor manufacturer’s stock valued at $1,555,000 after purchasing an additional 8,509 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

NASDAQ AVGO opened at $173.90 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. Broadcom Inc. has a 12 month low of $87.12 and a 12 month high of $186.42. The stock has a market cap of $812.21 billion, a price-to-earnings ratio of 151.09, a PEG ratio of 1.99 and a beta of 1.17. The company’s 50 day moving average is $169.37 and its two-hundred day moving average is $156.58.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.22%. Broadcom’s dividend payout ratio is 184.19%.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Oppenheimer dropped their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group upped their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’s 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 transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was 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, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.