Bellwether Advisors LLC Has $15.50 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Bellwether Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,014.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,865 shares of the semiconductor manufacturer’s stock after purchasing an additional 81,799 shares during the period. Broadcom comprises 3.0% of Bellwether Advisors LLC’s holdings, making the stock its 9th biggest holding. Bellwether Advisors LLC’s holdings in Broadcom were worth $15,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castleview Partners LLC raised its holdings in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the period. Tsfg LLC grew its position in Broadcom by 1,073.7% in 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 during the last quarter. Cedar Wealth Management LLC increased its stake in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the period. Krane Funds Advisors LLC purchased a new stake in Broadcom in the third quarter worth $42,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Broadcom during the third quarter worth $45,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Price Performance

Shares of AVGO stock opened at $164.23 on Friday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.68, a PEG ratio of 1.94 and a beta of 1.17. The stock’s 50-day simple moving average is $173.70 and its 200-day simple moving average is $160.62.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 business posted $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company 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. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

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.