Savvy Advisors Inc. Buys 14,424 Shares of Broadcom Inc. (NASDAQ:AVGO)

Savvy Advisors Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 954.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,936 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,424 shares during the period. Savvy Advisors Inc.’s holdings in Broadcom were worth $2,749,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Delta Asset Management LLC TN lifted its stake in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC boosted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at about $42,000. Finally, Highline Wealth Partners LLC purchased a new position in shares of Broadcom in the third quarter worth about $45,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $164.84 on Friday. The stock has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.34, a PEG ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business’s fifty day moving average price is $172.29 and its 200-day moving average price is $159.14.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 analysts’ expectations of $12.98 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom’s dividend payout ratio is 184.35%.

Analysts Set New Price Targets

A number of equities analysts have commented on AVGO shares. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Morgan Stanley increased their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. The Goldman Sachs Group upped their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. Company insiders own 2.00% of the company’s stock.

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.