CreativeOne Wealth LLC Acquires 95,896 Shares of Broadcom Inc. (NASDAQ:AVGO)

CreativeOne Wealth LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 770.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 108,345 shares of the semiconductor manufacturer’s stock after buying an additional 95,896 shares during the period. CreativeOne Wealth LLC’s holdings in Broadcom were worth $18,690,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas lifted its holdings in Broadcom by 1,311.3% during the 3rd quarter. BNP Paribas now owns 399,897 shares of the semiconductor manufacturer’s stock valued at $68,914,000 after purchasing an additional 371,561 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Broadcom by 2,476.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,870,958 shares of the semiconductor manufacturer’s stock valued at $322,740,000 after purchasing an additional 1,798,340 shares during the last quarter. Cravens & Co Advisors LLC lifted its holdings in Broadcom by 814.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 12,278 shares of the semiconductor manufacturer’s stock valued at $2,118,000 after purchasing an additional 10,935 shares during the last quarter. RiverGlades Family Offices LLC lifted its holdings in Broadcom by 900.0% during the 3rd quarter. RiverGlades Family Offices LLC now owns 1,310 shares of the semiconductor manufacturer’s stock valued at $226,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Broadcom by 877.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 310,009 shares of the semiconductor manufacturer’s stock valued at $53,477,000 after purchasing an additional 278,300 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Truist Financial raised their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.96.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $159.67 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The firm’s 50 day moving average price is $173.57 and its two-hundred day moving average price is $161.49. The firm has a market cap of $745.75 billion, a P/E ratio of 138.84, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 firm 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 firm posted $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.35%.

Broadcom Company 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.