Fullcircle Wealth LLC Has $2.03 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Fullcircle Wealth LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,811 shares of the semiconductor manufacturer’s stock after purchasing an additional 88 shares during the quarter. Broadcom comprises approximately 0.9% of Fullcircle Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Fullcircle Wealth LLC’s holdings in Broadcom were worth $2,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Delta Asset Management LLC TN lifted its stake in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares in the last quarter. Tsfg LLC lifted its stake in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Broadcom during the 3rd quarter worth $42,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Broadcom in the 3rd quarter worth $45,000. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Benchmark restated a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 0.2 %

AVGO stock opened at $168.55 on Tuesday. The stock has a 50-day simple moving average of $169.12 and a two-hundred day simple moving average of $156.30. Broadcom Inc. has a twelve month low of $87.12 and a twelve month high of $186.42. The firm has a market capitalization of $787.23 billion, a PE ratio of 146.44, a PEG ratio of 2.73 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, topping analysts’ consensus estimates 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 prior year, the firm posted $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

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.