Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 903.6% during the third quarter, Holdings Channel reports. The firm owned 43,325 shares of the semiconductor manufacturer’s stock after buying an additional 39,008 shares during the period. Broadcom comprises 2.5% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 7th biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Broadcom were worth $7,473,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Castleview Partners LLC boosted its position in Broadcom by 1,030.8% in 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 in the last quarter. Delta Asset Management LLC TN boosted its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares in the last quarter. Tsfg LLC grew its position in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Broadcom during the 3rd quarter valued at $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom in the 3rd quarter valued at $45,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

AVGO stock opened at $173.90 on Wednesday. Broadcom Inc. has a 1-year low of $87.12 and a 1-year high of $186.42. The business’s 50-day moving average price is $169.37 and its two-hundred day moving average price is $156.58. The firm has a market cap of $812.21 billion, a PE ratio of 151.09, a P/E/G ratio of 1.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. As a group, research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated 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 directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. Rosenblatt Securities cut their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.79.

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.