B. Riley Wealth Advisors Inc. Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

B. Riley Wealth Advisors Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 624.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 138,687 shares of the semiconductor manufacturer’s stock after acquiring an additional 119,553 shares during the period. Broadcom makes up approximately 0.7% of B. Riley Wealth Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. B. Riley Wealth Advisors Inc.’s holdings in Broadcom were worth $23,889,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Legacy Wealth Management LLC MS increased its position in shares of Broadcom by 1,021.0% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 9,573 shares of the semiconductor manufacturer’s stock valued at $1,651,000 after acquiring an additional 8,719 shares during the period. 1ST Source Bank increased its holdings in shares of Broadcom by 869.0% in the third quarter. 1ST Source Bank now owns 32,489 shares of the semiconductor manufacturer’s stock valued at $5,604,000 after purchasing an additional 29,136 shares during the period. Alternative Investment Advisors LLC. raised its stake in shares of Broadcom by 376.4% in the third quarter. Alternative Investment Advisors LLC. now owns 9,367 shares of the semiconductor manufacturer’s stock worth $1,616,000 after purchasing an additional 7,401 shares during the last quarter. DGS Capital Management LLC lifted its holdings in shares of Broadcom by 1,094.7% during the third quarter. DGS Capital Management LLC now owns 8,363 shares of the semiconductor manufacturer’s stock worth $1,443,000 after purchasing an additional 7,663 shares during the period. Finally, Copley Financial Group Inc. purchased a new stake in Broadcom in the third quarter valued at approximately $379,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVGO. Jefferies Financial Group raised their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Susquehanna lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on Broadcom from $180.00 to $233.00 and gave the stock an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $220.33.

Broadcom Stock Performance

NASDAQ AVGO opened at $224.80 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $174.61 and its 200-day simple moving average is $164.45. The company has a market cap of $1.05 trillion, a PE ratio of 182.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $228.70.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities research analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 172.36%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 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.