Bard Financial Services Inc. Buys 14,960 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bard Financial Services Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 859.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,700 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,960 shares during the period. Bard Financial Services Inc.’s holdings in Broadcom were worth $2,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Richardson Financial Services Inc. increased its holdings in Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after purchasing an additional 59 shares in the last quarter. Tennessee Valley Asset Management Partners increased its holdings in Broadcom by 5.2% during the 2nd quarter. Tennessee Valley Asset Management Partners now owns 1,288 shares of the semiconductor manufacturer’s stock worth $2,068,000 after purchasing an additional 64 shares in the last quarter. Winthrop Advisory Group LLC increased its holdings in Broadcom by 25.7% during the 2nd quarter. Winthrop Advisory Group LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 66 shares in the last quarter. Delta Investment Management LLC boosted its stake in shares of Broadcom by 14.9% in the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after buying an additional 66 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC boosted its stake in shares of Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock worth $1,856,000 after buying an additional 67 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.09.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % 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 valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 4.2 %

AVGO opened at $178.98 on Wednesday. The stock has a market cap of $835.94 billion, a PE ratio of 149.40, a P/E/G ratio of 2.11 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52 week low of $102.46 and a 52 week high of $186.42. The business’s fifty day simple moving average is $173.14 and its 200 day simple moving average is $163.05.

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.