Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Wiser Advisor Group LLC

Wiser Advisor Group LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,665.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 618 shares of the semiconductor manufacturer’s stock after purchasing an additional 583 shares during the quarter. Wiser Advisor Group LLC’s holdings in Broadcom were worth $107,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AVGO. Jennison Associates LLC raised its holdings in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Broadcom by 962.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after buying an additional 28,985,434 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Broadcom by 938.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer’s stock valued at $4,040,430,000 after buying an additional 21,168,095 shares during the period. Swedbank AB boosted its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Broadcom by 907.0% during the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after acquiring an additional 11,822,467 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial boosted their target price 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. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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 analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Stock Down 3.1 %

AVGO opened at $159.67 on Thursday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The business has a 50-day moving average of $173.72 and a two-hundred day moving average of $161.28. 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 has a market capitalization of $745.75 billion, a price-to-earnings ratio of 138.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during 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%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.33%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 4.83 % 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 valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

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.