Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Stableford Capital II LLC

Stableford Capital II LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,628 shares of the semiconductor manufacturer’s stock after selling 605 shares during the quarter. Stableford Capital II LLC’s holdings in Broadcom were worth $1,021,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB grew its position in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Broadcom by 826.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after buying an additional 2,643,845 shares in the last quarter. Vanguard Group Inc. grew its holdings in Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Jennison Associates LLC increased its position in Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after buying an additional 1,263,957 shares in the last quarter. Finally, Guinness Asset Management LTD raised its holdings in shares of Broadcom by 937.1% in the third quarter. Guinness Asset Management LTD now owns 1,331,971 shares of the semiconductor manufacturer’s stock worth $229,755,000 after acquiring an additional 1,203,544 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVGO shares. TD Cowen raised Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Bank of America restated a “buy” rating and set a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Trading Up 0.5 %

Shares of AVGO stock opened at $176.82 on Thursday. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The firm’s 50 day moving average price is $165.17 and its two-hundred day moving average price is $152.58. The stock has a market cap of $823.08 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The business’s quarterly revenue was up 47.3% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced 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 of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’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 owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction 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 in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

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.