Arete Wealth Advisors LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Arete Wealth Advisors LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 731.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,785 shares of the semiconductor manufacturer’s stock after purchasing an additional 26,201 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Broadcom were worth $5,115,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom during the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Broadcom during the 2nd quarter valued at $136,000. American Capital Advisory LLC purchased a new position in shares of Broadcom in the second quarter valued at about $169,000. Semus Wealth Partners LLC bought a new position in shares of Broadcom during the second quarter valued at about $202,000. Finally, Palisades Hudson Asset Management L.P. purchased a new stake in shares of Broadcom during the second quarter worth about $204,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVGO. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Truist Financial lifted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $198.09.

Broadcom Price Performance

Shares of AVGO opened at $171.81 on Wednesday. Broadcom Inc. has a twelve month low of $95.61 and a twelve month high of $186.42. The company has a market capitalization of $802.45 billion, a P/E ratio of 149.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The firm has a 50 day moving average of $173.14 and a 200 day moving average of $163.05. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

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.