Shoker Investment Counsel Inc. Purchases Shares of 21,431 Broadcom Inc. (NASDAQ:AVGO)

Shoker Investment Counsel Inc. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,431 shares of the semiconductor manufacturer’s stock, valued at approximately $3,697,000. Broadcom accounts for about 1.2% of Shoker Investment Counsel Inc.’s holdings, making the stock its 21st largest holding.

Other hedge funds have also modified their holdings of the company. Castleview Partners LLC increased its position in shares of 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 acquiring an additional 134 shares during the last quarter. Delta Asset Management LLC TN increased its position in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC raised its stake in shares of 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 purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Broadcom in the 3rd quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Broadcom in the third quarter valued at $45,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This 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. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $178.91 on Tuesday. The firm has a 50 day simple moving average of $170.75 and a 200 day simple moving average of $157.78. The company has a market cap of $835.61 billion, a price-to-earnings ratio of 155.44, a PEG ratio of 2.16 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

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

Broadcom Increases Dividend

The firm also recently declared 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 a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 184.19%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Rosenblatt Securities reduced 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. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Company 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.