Polianta Ltd Buys Shares of 6,800 Broadcom Inc. (NASDAQ:AVGO)

Polianta Ltd purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,800 shares of the semiconductor manufacturer’s stock, valued at approximately $1,173,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. High Net Worth Advisory Group LLC raised its holdings in shares of Broadcom by 900.0% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 2,610 shares of the semiconductor manufacturer’s stock valued at $450,000 after buying an additional 2,349 shares in the last quarter. Thomasville National Bank raised its stake in shares of Broadcom by 1,020.2% during the third quarter. Thomasville National Bank now owns 2,330 shares of the semiconductor manufacturer’s stock worth $402,000 after acquiring an additional 2,122 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of Broadcom by 562.1% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 102,866 shares of the semiconductor manufacturer’s stock worth $17,744,000 after acquiring an additional 87,330 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Broadcom by 967.3% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,521 shares of the semiconductor manufacturer’s stock valued at $1,125,000 after purchasing an additional 5,910 shares during the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in Broadcom by 827.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 2,262 shares of the semiconductor manufacturer’s stock worth $390,000 after purchasing an additional 2,018 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on 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 approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 295,130 shares of company stock valued at $50,646,622. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 2.3 %

Shares of NASDAQ:AVGO opened at $181.48 on Monday. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42. The stock has a market capitalization of $844.77 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.99 and a beta of 1.17. The stock has a fifty day simple moving average of $162.91 and a two-hundred day simple moving average of $151.64. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

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, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.95 EPS. On average, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company 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. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. UBS Group reduced their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities cut their target price 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. Finally, Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.29.

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.