Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Martel Wealth Advisors Inc

Martel Wealth Advisors Inc boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,960 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,764 shares during the period. Martel Wealth Advisors Inc’s holdings in Broadcom were worth $346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Public Employees Retirement System of Ohio boosted its holdings in shares of Broadcom by 6.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 227,015 shares of the semiconductor manufacturer’s stock valued at $253,405,000 after acquiring an additional 14,121 shares during the period. Optimist Retirement Group LLC bought a new stake in Broadcom in the 4th quarter valued at about $3,229,000. Studio Investment Management LLC boosted its stake in Broadcom by 25.4% during the 4th quarter. Studio Investment Management LLC now owns 2,527 shares of the semiconductor manufacturer’s stock valued at $2,821,000 after purchasing an additional 512 shares during the period. Contour Asset Management LLC grew its holdings in Broadcom by 7.1% in the 4th quarter. Contour Asset Management LLC now owns 103,462 shares of the semiconductor manufacturer’s stock worth $115,489,000 after buying an additional 6,879 shares in the last quarter. Finally, Oarsman Capital Inc. grew its stake in shares of Broadcom by 2.9% in the fourth quarter. Oarsman Capital Inc. now owns 3,188 shares of the semiconductor manufacturer’s stock worth $3,559,000 after purchasing an additional 90 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Cantor Fitzgerald upped their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer decreased their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.29.

Broadcom Stock Down 2.3 %

AVGO stock opened at $181.48 on Friday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $847.62 billion, a PE ratio of 157.67, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The business’s 50-day simple moving average is $162.91 and its 200 day simple moving average is $151.64.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. On average, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.19%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 295,130 shares of company stock worth $50,646,622 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.