BBVA USA Bancshares Inc. boosted its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,983 shares of the semiconductor manufacturer’s stock after purchasing an additional 173 shares during the quarter. BBVA USA Bancshares Inc.’s holdings in Broadcom were worth $704,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Institute for Wealth Management LLC. increased its position in Broadcom by 144.2% during the second quarter. Institute for Wealth Management LLC. now owns 2,112 shares of the semiconductor manufacturer’s stock valued at $667,000 after acquiring an additional 1,247 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Broadcom by 5.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,605 shares of the semiconductor manufacturer’s stock worth $949,000 after purchasing an additional 140 shares during the period. Blair William & Co. IL grew its stake in shares of Broadcom by 3.3% during the 2nd quarter. Blair William & Co. IL now owns 13,016 shares of the semiconductor manufacturer’s stock worth $4,108,000 after purchasing an additional 414 shares during the period. GWM Advisors LLC grew its stake in shares of Broadcom by 70.6% during the 2nd quarter. GWM Advisors LLC now owns 19,418 shares of the semiconductor manufacturer’s stock worth $6,128,000 after purchasing an additional 8,039 shares during the period. Finally, PFG Advisors acquired a new stake in shares of Broadcom during the 3rd quarter worth approximately $214,000. 81.82% of the stock is currently owned by institutional investors.
NASDAQ AVGO opened at $355.01 on Friday. The business’s 50-day moving average price is $366.14 and its 200 day moving average price is $319.23. The company has a market capitalization of $143.60 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 1.83. Broadcom Inc has a twelve month low of $155.67 and a twelve month high of $387.80.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.24 by $0.16. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.76 billion. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $5.16 EPS. Equities analysts predict that Broadcom Inc will post 18.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were issued a $3.25 dividend. The ex-dividend date was Monday, September 21st. This represents a $13.00 dividend on an annualized basis and a dividend yield of 3.66%. Broadcom’s dividend payout ratio (DPR) is 74.67%.
In other news, SVP Charlie B. Kawwas sold 4,586 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $354.01, for a total value of $1,623,489.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 78,125 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $361.33, for a total value of $28,228,906.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 675,895 shares of company stock worth $239,088,699. Company insiders own 3.00% of the company’s stock.
A number of equities research analysts have recently commented on AVGO shares. Robert W. Baird raised their price objective on shares of Broadcom from $350.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. UBS Group upped their price objective on Broadcom from $335.00 to $425.00 and gave the stock a “buy” rating in a report on Friday, September 4th. Oppenheimer upped their price objective on Broadcom from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. BMO Capital Markets upped their target price on Broadcom from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, August 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their target price on Broadcom from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $383.61.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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