AHL Investment Management Inc. Has $424,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

AHL Investment Management Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,460 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,214 shares during the period. AHL Investment Management Inc.’s holdings in Broadcom were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Vanguard Group Inc. increased its holdings in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the last quarter. Swedbank AB boosted its holdings in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the period. Van ECK Associates Corp grew its stake in Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after buying an additional 11,453,554 shares during the last quarter. Raymond James & Associates raised its holdings in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares during the period. Finally, National Pension Service lifted its position in Broadcom by 1,045.4% during the third quarter. National Pension Service now owns 8,273,157 shares of the semiconductor manufacturer’s stock worth $1,427,120,000 after acquiring an additional 7,550,878 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. UBS Group upped 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. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.79.

Insiders Place Their Bets

In other 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 transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % 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. In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction 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 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.1 %

Shares of NASDAQ AVGO opened at $183.64 on Friday. The stock has a 50-day moving average price of $170.75 and a two-hundred day moving average price of $157.78. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $857.71 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 1.99 and a beta of 1.17.

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

Broadcom Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.19%.

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.