Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,057.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,789 shares of the semiconductor manufacturer’s stock after buying an additional 2,548 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Broadcom were worth $481,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Scarborough Advisors LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $73,000. Creekmur Asset Management LLC bought a new stake in Broadcom in the fourth quarter valued at $43,000. Richardson Financial Services Inc. bought a new stake in Broadcom in the fourth quarter valued at $67,000. ST Germain D J Co. Inc. boosted its holdings in shares of Broadcom by 11.4% during the first quarter. ST Germain D J Co. Inc. now owns 166 shares of the semiconductor manufacturer’s stock valued at $220,000 after acquiring an additional 17 shares during the period. Finally, Trust Co. of Toledo NA OH grew its position in shares of Broadcom by 2.5% during the first quarter. Trust Co. of Toledo NA OH now owns 1,551 shares of the semiconductor manufacturer’s stock worth $2,056,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This trade represents 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 accessible through the SEC website. In other news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 295,130 shares of company stock valued at $50,646,622. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

AVGO opened at $182.31 on Tuesday. The firm has a market capitalization of $848.63 billion, a P/E ratio of 7.84, a PEG ratio of 2.99 and a beta of 1.17. The stock has a fifty day moving average of $163.72 and a 200-day moving average of $151.97. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 47.3% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Analyst Ratings Changes

A number of research firms have issued reports on AVGO. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Bank of America reiterated a “buy” rating and set a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

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.