Asset Allocation & Management Company LLC Purchases 4,113 Shares of Broadcom Inc. (NASDAQ:AVGO)

Asset Allocation & Management Company LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,570 shares of the semiconductor manufacturer’s stock after buying an additional 4,113 shares during the quarter. Broadcom comprises about 0.5% of Asset Allocation & Management Company LLC’s portfolio, making the stock its 28th largest position. Asset Allocation & Management Company LLC’s holdings in Broadcom were worth $788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Kathmere Capital Management LLC increased its position in Broadcom by 23.8% in the 1st quarter. Kathmere Capital Management LLC now owns 604 shares of the semiconductor manufacturer’s stock valued at $801,000 after acquiring an additional 116 shares during the period. Occidental Asset Management LLC lifted its holdings in shares of Broadcom by 32.2% in the 1st quarter. Occidental Asset Management LLC now owns 263 shares of the semiconductor manufacturer’s stock worth $349,000 after purchasing an additional 64 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in Broadcom by 27.1% during the 1st quarter. Hodges Capital Management Inc. now owns 516 shares of the semiconductor manufacturer’s stock valued at $684,000 after purchasing an additional 110 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Broadcom by 7.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,689 shares of the semiconductor manufacturer’s stock valued at $7,540,000 after buying an additional 396 shares during the last quarter. Finally, First Bank & Trust bought a new position in shares of Broadcom during the 1st quarter worth approximately $281,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were 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 directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of the firm’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 transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 1.0 %

Shares of Broadcom stock opened at $173.00 on Friday. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The firm’s 50 day moving average price is $168.03 and its 200-day moving average price is $154.41. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $805.29 billion, a P/E ratio of 7.44, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 1.23%. 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 dividend payout ratio (DPR) is currently 9.12%.

Analyst Ratings Changes

A number of analysts recently commented on AVGO shares. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. UBS Group decreased their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Truist Financial increased their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

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.