Montz Harcus Wealth Management LLC Purchases 2,594 Shares of Broadcom Inc. (NASDAQ:AVGO)

Montz Harcus Wealth Management LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 856.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,897 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,594 shares during the period. Montz Harcus Wealth Management LLC’s holdings in Broadcom were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Swedbank AB lifted its position in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Raymond James & Associates lifted its position in shares of Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Broadcom by 226,130.5% during the third quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after acquiring an additional 8,242,455 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of Broadcom by 156,028.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,284,970 shares of the semiconductor manufacturer’s stock worth $1,256,657,000 after acquiring an additional 7,280,304 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 1.5 %

AVGO opened at $176.64 on Thursday. The stock has a market cap of $822.24 billion, a PE ratio of 153.60, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52 week low of $83.26 and a 52 week high of $186.42. The business’s fifty day simple moving average is $168.74 and its 200 day simple moving average is $155.58.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same period last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 184.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group dropped their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Mizuho increased their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Truist Financial increased 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. Finally, The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Get Our Latest Stock Report on Broadcom

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % 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 valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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