Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Activest Wealth Management

Activest Wealth Management increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 257.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 846 shares of the semiconductor manufacturer’s stock after purchasing an additional 609 shares during the quarter. Activest Wealth Management’s holdings in Broadcom were worth $146,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Jennison Associates LLC raised its position in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after purchasing an additional 28,985,434 shares during the last quarter. Swedbank AB raised its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Swiss National Bank boosted its holdings in Broadcom by 907.0% in the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock valued at $2,264,223,000 after purchasing an additional 11,822,467 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after purchasing an additional 11,453,554 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AVGO. The Goldman Sachs Group upped 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. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Mizuho raised their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial upped their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s 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. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.2 %

Shares of Broadcom stock opened at $164.23 on Monday. 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 stock’s 50 day simple moving average is $173.70 and its 200-day simple moving average is $160.62. The stock has a market cap of $767.05 billion, a P/E ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The firm’s revenue for the quarter 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 company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given 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 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 184.35%.

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.