Bell & Brown Wealth Advisors LLC acquired a new position in shares of Broadcom Inc (NASDAQ:AVGO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,782 shares of the semiconductor manufacturer’s stock, valued at approximately $3,230,000. Broadcom accounts for approximately 2.7% of Bell & Brown Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in Broadcom by 17.8% in the 2nd quarter. Janus Henderson Group PLC now owns 978,371 shares of the semiconductor manufacturer’s stock valued at $281,577,000 after acquiring an additional 147,769 shares during the period. Endurance Wealth Management Inc. grew its stake in Broadcom by 8.4% in the 2nd quarter. Endurance Wealth Management Inc. now owns 7,575 shares of the semiconductor manufacturer’s stock valued at $2,181,000 after acquiring an additional 585 shares during the period. Parsons Capital Management Inc. RI grew its stake in Broadcom by 13.2% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 1,646 shares of the semiconductor manufacturer’s stock valued at $474,000 after acquiring an additional 192 shares during the period. 9258 Wealth Management LLC lifted its holdings in Broadcom by 5.8% in the 2nd quarter. 9258 Wealth Management LLC now owns 1,558 shares of the semiconductor manufacturer’s stock valued at $449,000 after purchasing an additional 85 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its holdings in Broadcom by 63.0% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 60,830 shares of the semiconductor manufacturer’s stock valued at $17,511,000 after purchasing an additional 23,514 shares in the last quarter. 84.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:AVGO traded up $2.85 during midday trading on Wednesday, reaching $273.18. 1,145,427 shares of the company’s stock were exchanged, compared to its average volume of 2,733,222. The firm’s 50 day simple moving average is $282.20 and its two-hundred day simple moving average is $287.37. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.32 and a quick ratio of 1.18. The stock has a market cap of $111.64 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 1.40 and a beta of 0.89. Broadcom Inc has a fifty-two week low of $208.23 and a fifty-two week high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.98 earnings per share. Equities research analysts predict that Broadcom Inc will post 16.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 23rd were given a dividend of $2.65 per share. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Friday, September 20th. Broadcom’s payout ratio is 56.29%.

A number of research analysts have weighed in on AVGO shares. Deutsche Bank decreased their price objective on Broadcom from $330.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Susquehanna Bancshares raised their price objective on Broadcom from $315.00 to $345.00 and gave the company a “positive” rating in a report on Friday, September 13th. Mizuho restated a “buy” rating and issued a $340.00 price objective (up previously from $330.00) on shares of Broadcom in a report on Friday, September 13th. Barclays decreased their price objective on Broadcom from $360.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating and set a $253.03 price objective on the stock in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-nine have given a buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and a consensus price target of $312.06.

In related news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $270.46, for a total transaction of $5,409,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $17,026,600 over the last three months. Corporate insiders own 3.30% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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