Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by First Heartland Consultants Inc.

First Heartland Consultants Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 518.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,569 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,669 shares during the quarter. First Heartland Consultants Inc.’s holdings in Broadcom were worth $961,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. boosted its holdings in Broadcom by 34.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 10,129 shares of the semiconductor manufacturer’s stock valued at $13,425,000 after purchasing an additional 2,622 shares during the last quarter. Allstate Corp raised its position in Broadcom by 1.0% in the first quarter. Allstate Corp now owns 1,407 shares of the semiconductor manufacturer’s stock valued at $1,865,000 after purchasing an additional 14 shares during the period. Strait & Sound Wealth Management LLC lifted its stake in shares of Broadcom by 7.2% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 638 shares of the semiconductor manufacturer’s stock valued at $882,000 after purchasing an additional 43 shares during the last quarter. Catalytic Wealth RIA LLC purchased a new position in shares of Broadcom during the 1st quarter worth $922,000. Finally, NWK Group Inc. increased its position in shares of Broadcom by 2.8% during the 1st quarter. NWK Group Inc. now owns 7,813 shares of the semiconductor manufacturer’s stock worth $10,355,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Truist Financial boosted their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $164.84 on Friday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The firm has a market capitalization of $769.90 billion, a P/E ratio of 143.34, a P/E/G ratio of 2.04 and a beta of 1.17. 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 company’s fifty day moving average price is $172.29 and its 200 day moving average price is $159.14.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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 directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Company insiders own 2.00% of the company’s stock.

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.