Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Fountainhead AM LLC

Fountainhead AM LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 766.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,363 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,282 shares during the period. Fountainhead AM LLC’s holdings in Broadcom were worth $1,615,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AXA S.A. grew its stake in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC grew its stake in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after buying an additional 18,206 shares during the period. Whittier Trust Co. grew its stake in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC grew its stake in Broadcom by 912.6% during the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after buying an additional 8,834 shares during the period. Finally, Signaturefd LLC grew its stake in Broadcom by 913.0% during the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after buying an additional 71,181 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 1.8 %

AVGO opened at $170.38 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 stock’s fifty day simple moving average is $171.93 and its 200 day simple moving average is $158.86. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The stock has a market cap of $795.77 billion, a PE ratio of 148.03, a price-to-earnings-growth ratio of 2.07 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 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 firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 184.19%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AVGO shares. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Mizuho upped their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the 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 approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.