BBR Partners LLC Buys 3,979 Shares of Broadcom Inc. (NASDAQ:AVGO)

BBR Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 810.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,470 shares of the semiconductor manufacturer’s stock after buying an additional 3,979 shares during the quarter. BBR Partners LLC’s holdings in Broadcom were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AVGO. Indiana Trust & Investment Management CO raised its position in Broadcom by 39.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock worth $85,000 after purchasing an additional 15 shares during the period. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom in the second quarter worth approximately $128,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $136,000. Bank & Trust Co purchased a new position in Broadcom during the 2nd quarter valued at $153,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Broadcom during the second quarter valued at $169,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on 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 $70,744,366. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities dropped their price objective 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. Two 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Trading Down 3.1 %

NASDAQ AVGO opened at $159.67 on Friday. The company has a fifty day moving average of $173.57 and a 200 day moving average of $161.49. The company has a market capitalization of $745.75 billion, a PE ratio of 138.84, a P/E/G ratio of 1.94 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 $90.31 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $13.07 billion for 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%. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.33%. 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 184.35%.

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.