Hemenway Trust Co LLC Has $292,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Hemenway Trust Co LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,690 shares of the semiconductor manufacturer’s stock after buying an additional 1,521 shares during the period. Hemenway Trust Co LLC’s holdings in Broadcom were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. increased its position in Broadcom by 954.0% during the third quarter. Savvy Advisors Inc. now owns 15,936 shares of the semiconductor manufacturer’s stock worth $2,749,000 after buying an additional 14,424 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Broadcom by 894.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 110,713 shares of the semiconductor manufacturer’s stock worth $19,098,000 after acquiring an additional 99,585 shares during the last quarter. Mascoma Wealth Management LLC raised its stake in Broadcom by 900.0% in the 3rd quarter. Mascoma Wealth Management LLC now owns 1,360 shares of the semiconductor manufacturer’s stock valued at $235,000 after acquiring an additional 1,224 shares during the period. Intrepid Financial Planning Group LLC lifted its holdings in Broadcom by 948.9% during the 3rd quarter. Intrepid Financial Planning Group LLC now owns 6,010 shares of the semiconductor manufacturer’s stock valued at $1,037,000 after purchasing an additional 5,437 shares during the last quarter. Finally, Verus Capital Partners LLC increased its holdings in shares of Broadcom by 849.4% in the third quarter. Verus Capital Partners LLC now owns 6,380 shares of the semiconductor manufacturer’s stock valued at $1,101,000 after purchasing an additional 5,708 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Rosenblatt Securities cut their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Morgan Stanley boosted 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. JPMorgan Chase & Co. increased 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. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 3.3 %

Shares of AVGO opened at $164.84 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The firm has a market cap of $769.90 billion, a price-to-earnings ratio of 143.34, a PEG ratio of 2.04 and a beta of 1.17. The business’s fifty day moving average is $172.29 and its 200-day moving average is $159.14.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. Broadcom’s dividend payout ratio is presently 184.35%.

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.