Nations Financial Group Inc. IA ADV Acquires 63,257 Shares of Broadcom Inc. (NASDAQ:AVGO)

Nations Financial Group Inc. IA ADV lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,062.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,210 shares of the semiconductor manufacturer’s stock after purchasing an additional 63,257 shares during the quarter. Broadcom accounts for 0.9% of Nations Financial Group Inc. IA ADV’s holdings, making the stock its 21st largest position. Nations Financial Group Inc. IA ADV’s holdings in Broadcom were worth $11,939,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AVGO. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Delta Asset Management LLC TN boosted its position in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares in the last quarter. Tsfg LLC boosted its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom in the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in Broadcom in the third quarter valued at approximately $45,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AVGO. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Finally, Rosenblatt Securities cut 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. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 1.8 %

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 current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $795.77 billion, a P/E ratio of 148.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The company has a fifty day moving average price of $171.93 and a two-hundred day moving average price of $158.86.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 issued a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Broadcom 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.