Jamison Private Wealth Management Inc. Buys 42,442 Shares of Broadcom Inc. (NASDAQ:AVGO)

Jamison Private Wealth Management Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 933.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,989 shares of the semiconductor manufacturer’s stock after purchasing an additional 42,442 shares during the period. Broadcom comprises about 1.2% of Jamison Private Wealth Management Inc.’s portfolio, making the stock its 28th largest position. Jamison Private Wealth Management Inc.’s holdings in Broadcom were worth $8,106,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Farmers Trust Co. purchased a new position in Broadcom in the first quarter valued at about $205,000. Collective Family Office LLC grew its holdings in Broadcom by 5.6% during the first quarter. Collective Family Office LLC now owns 226 shares of the semiconductor manufacturer’s stock valued at $300,000 after purchasing an additional 12 shares during the period. Wedmont Private Capital increased its position in Broadcom by 2.1% in the first quarter. Wedmont Private Capital now owns 3,663 shares of the semiconductor manufacturer’s stock worth $4,887,000 after buying an additional 76 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its stake in shares of Broadcom by 20.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 7,232 shares of the semiconductor manufacturer’s stock valued at $9,585,000 after buying an additional 1,243 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of Broadcom by 6.1% during the 1st quarter. Park Avenue Securities LLC now owns 13,160 shares of the semiconductor manufacturer’s stock worth $17,442,000 after acquiring an additional 753 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Bank of America reaffirmed a “buy” rating and issued a $215.00 price target (up from $200.00) on shares of Broadcom in a report on Monday, June 24th. Finally, Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.54.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $176.82 on Thursday. The stock’s 50-day moving average is $165.17 and its 200 day moving average is $152.58. The stock has a market cap of $823.08 billion, a price-to-earnings ratio of 7.61, a P/E/G ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. 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 (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm posted $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Broadcom 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.