Woodmont Investment Counsel LLC Has $23.52 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Woodmont Investment Counsel LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 916.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,367 shares of the semiconductor manufacturer’s stock after buying an additional 122,953 shares during the period. Broadcom accounts for about 1.8% of Woodmont Investment Counsel LLC’s holdings, making the stock its 12th biggest holding. Woodmont Investment Counsel LLC’s holdings in Broadcom were worth $23,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. WNY Asset Management LLC increased its stake in shares of Broadcom by 5.4% in the first quarter. WNY Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock valued at $417,000 after buying an additional 16 shares during the period. Choate Investment Advisors increased its stake in shares of Broadcom by 1.6% in the first quarter. Choate Investment Advisors now owns 2,360 shares of the semiconductor manufacturer’s stock valued at $3,128,000 after buying an additional 37 shares during the period. NorthRock Partners LLC increased its stake in shares of Broadcom by 24.5% in the first quarter. NorthRock Partners LLC now owns 3,150 shares of the semiconductor manufacturer’s stock valued at $4,175,000 after buying an additional 620 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Broadcom by 36.3% during the 1st quarter. Meeder Asset Management Inc. now owns 23,003 shares of the semiconductor manufacturer’s stock valued at $30,488,000 after purchasing an additional 6,132 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of Broadcom by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 6,376 shares of the semiconductor manufacturer’s stock valued at $8,451,000 after purchasing an additional 305 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of AVGO opened at $183.64 on Friday. 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 capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 2.11 and a beta of 1.17. The stock has a 50 day moving average of $170.75 and a 200 day moving average of $157.78. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Oppenheimer cut their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Truist Financial upped their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. 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. According to MarketBeat, the company currently has a consensus 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.