One Charles Private Wealth Services LLC Buys 2,196 Shares of Broadcom Inc. (NASDAQ:AVGO)

One Charles Private Wealth Services LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,440 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,196 shares during the period. One Charles Private Wealth Services LLC’s holdings in Broadcom were worth $421,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Castleview Partners LLC grew its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Tsfg LLC boosted its stake in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Broadcom in the third quarter worth $42,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Broadcom during the third quarter valued at $45,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.4 %

NASDAQ AVGO opened at $164.82 on Tuesday. 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 Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The stock’s 50 day moving average is $173.72 and its 200 day moving average is $160.86. The stock has a market cap 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 earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is an increase 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%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVGO shares. William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Benchmark restated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Mizuho lifted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $195.96.

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.