Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 958.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,300 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,665 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Broadcom were worth $2,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Indiana Trust & Investment Management CO boosted its stake in shares of Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock valued at $85,000 after purchasing an additional 15 shares during the period. Creekmur Asset Management LLC lifted its holdings in Broadcom by 89.7% in the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock worth $98,000 after buying an additional 35 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in Broadcom in the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom during the second quarter valued at about $136,000. Finally, Bank & Trust Co purchased a new stake in shares of Broadcom during the second quarter worth about $153,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 3.24 % 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 quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVGO. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. 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. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald upped 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. Finally, Truist Financial increased their price target 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 equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Stock Down 0.0 %

Shares of Broadcom stock opened at $164.74 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The business’s fifty day moving average price is $173.76 and its two-hundred day moving average price is $161.09. The company has a market capitalization of $769.43 billion, a P/E ratio of 143.13, a PEG ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The business 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%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current 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 dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

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.