Capital Advisors Wealth Management LLC Purchases 14,982 Shares of Broadcom Inc. (NASDAQ:AVGO)

Capital Advisors Wealth Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 902.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,643 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,982 shares during the period. Capital Advisors Wealth Management LLC’s holdings in Broadcom were worth $2,871,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AVGO. Scarborough Advisors LLC bought a new stake in shares of Broadcom during the 4th quarter worth $73,000. ST Germain D J Co. Inc. increased its holdings in Broadcom by 11.4% in the 1st quarter. ST Germain D J Co. Inc. now owns 166 shares of the semiconductor manufacturer’s stock worth $220,000 after acquiring an additional 17 shares during the last quarter. Tompkins Financial Corp increased its holdings in Broadcom by 10.5% in the 1st quarter. Tompkins Financial Corp now owns 116 shares of the semiconductor manufacturer’s stock worth $154,000 after acquiring an additional 11 shares during the last quarter. Farmers Trust Co. purchased a new stake in Broadcom in the 1st quarter worth about $205,000. Finally, Foster Group Inc. increased its holdings in Broadcom by 29.5% in the 1st quarter. Foster Group Inc. now owns 408 shares of the semiconductor manufacturer’s stock worth $541,000 after acquiring an additional 93 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 3.5 %

Shares of NASDAQ:AVGO opened at $175.98 on Wednesday. The company has a market cap of $819.17 billion, a P/E ratio of 7.57, a PEG ratio of 2.99 and a beta of 1.17. 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 $81.83 and a 1 year high of $186.42. The stock’s fifty day moving average price is $164.36 and its 200-day moving average price is $152.27.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Sell-side 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. Shareholders of record on Thursday, September 19th were issued 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 dividend on an annualized basis and a yield of 1.20%. Broadcom’s dividend payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. UBS Group dropped their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Bank of America reiterated a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,130 shares of company stock valued at $50,646,622. 2.00% of the stock is owned by company insiders.

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.