M Holdings Securities Inc. Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

M Holdings Securities Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 470.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,955 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,507 shares during the period. M Holdings Securities Inc.’s holdings in Broadcom were worth $2,407,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Broadcom by 842.4% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock valued at $5,519,591,000 after buying an additional 28,985,434 shares during the period. Swedbank AB boosted its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Swiss National Bank grew its position in shares of Broadcom by 907.0% in the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock valued at $2,264,223,000 after purchasing an additional 11,822,467 shares during the period. Finally, Van ECK Associates Corp increased its stake in Broadcom by 917.8% in the third quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after purchasing an additional 11,453,554 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $164.82 on Tuesday. 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 $173.72 and its two-hundred day moving average price is $160.86. The firm has a market capitalization of $769.80 billion, a PE ratio of 143.20, a P/E/G ratio of 1.93 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. On average, research analysts expect 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 issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 184.19%.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AVGO shares. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Mizuho raised their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom 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.