Michael & Susan Dell Foundation increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,990,000 shares of the semiconductor manufacturer's stock after purchasing an additional 3,591,000 shares during the period. Broadcom accounts for 49.0% of Michael & Susan Dell Foundation's portfolio, making the stock its largest holding. Michael & Susan Dell Foundation owned about 0.09% of Broadcom worth $688,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in Broadcom by 3,061.9% during the 3rd quarter. True Wealth Design LLC now owns 664 shares of the semiconductor manufacturer's stock worth $115,000 after purchasing an additional 643 shares during the last quarter. Morton Community Bank raised its stake in shares of Broadcom by 868.8% during the third quarter. Morton Community Bank now owns 40,642 shares of the semiconductor manufacturer's stock worth $7,011,000 after buying an additional 36,447 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in Broadcom by 993.1% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,225 shares of the semiconductor manufacturer's stock valued at $901,000 after buying an additional 4,747 shares during the period. Tradition Wealth Management LLC boosted its stake in Broadcom by 863.8% in the third quarter. Tradition Wealth Management LLC now owns 21,715 shares of the semiconductor manufacturer's stock valued at $3,746,000 after acquiring an additional 19,462 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Broadcom by 813.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,112,501 shares of the semiconductor manufacturer's stock worth $191,906,000 after acquiring an additional 990,713 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.
A number of research analysts have recently weighed in on AVGO shares. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. Truist Financial boosted their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Finally, Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $195.96.
View Our Latest Research Report on Broadcom
In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm'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 directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company's stock.
Shares of AVGO stock opened at $162.08 on Friday. The firm's fifty day moving average price is $173.39 and its two-hundred day moving average price is $161.69. 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 Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm has a market capitalization of $757.01 billion, a P/E ratio of 140.82, a PEG ratio of 1.88 and a beta of 1.17.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (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 business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.31%. Broadcom's dividend payout ratio (DPR) is currently 184.19%.
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.
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