Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Annapolis Financial Services LLC

Annapolis Financial Services LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 908.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,099 shares of the semiconductor manufacturer’s stock after purchasing an additional 990 shares during the period. Annapolis Financial Services LLC’s holdings in Broadcom were worth $190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Midwest Financial Group LLC purchased a new stake in shares of Broadcom during the first quarter worth about $242,000. Capital CS Group LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $628,000. RFG Advisory LLC raised its position in shares of Broadcom by 15.1% in the 1st quarter. RFG Advisory LLC now owns 3,394 shares of the semiconductor manufacturer’s stock valued at $4,499,000 after purchasing an additional 446 shares in the last quarter. First Affirmative Financial Network boosted its stake in shares of Broadcom by 14.0% during the 1st quarter. First Affirmative Financial Network now owns 473 shares of the semiconductor manufacturer’s stock valued at $627,000 after buying an additional 58 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its position in shares of Broadcom by 2.1% during the first quarter. Gulf International Bank UK Ltd now owns 37,830 shares of the semiconductor manufacturer’s stock worth $50,140,000 after buying an additional 766 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Bank of America reaffirmed a “buy” rating and set a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Rosenblatt Securities lowered their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, UBS Group lowered their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Price Performance

Shares of AVGO opened at $181.53 on Friday. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The stock’s fifty day moving average is $165.88 and its 200-day moving average is $152.92. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market capitalization of $845.00 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred 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 transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the 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 of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

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.