Bey Douglas LLC Purchases 4,208 Shares of Broadcom Inc. $AVGO

Bey Douglas LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 246.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,913 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,208 shares during the period. Broadcom accounts for approximately 1.4% of Bey Douglas LLC’s holdings, making the stock its 20th largest position. Bey Douglas LLC’s holdings in Broadcom were worth $1,951,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fiducient Advisors LLC raised its stake in Broadcom by 18.0% in the third quarter. Fiducient Advisors LLC now owns 962 shares of the semiconductor manufacturer’s stock valued at $317,000 after buying an additional 147 shares during the period. Heritage Financial Services LLC increased its holdings in shares of Broadcom by 12.2% during the 3rd quarter. Heritage Financial Services LLC now owns 8,226 shares of the semiconductor manufacturer’s stock worth $2,714,000 after acquiring an additional 895 shares during the last quarter. Dilation Capital Management LP raised its stake in Broadcom by 28.0% in the 3rd quarter. Dilation Capital Management LP now owns 27,364 shares of the semiconductor manufacturer’s stock valued at $9,028,000 after acquiring an additional 5,984 shares during the period. Detalus Advisors LLC lifted its holdings in Broadcom by 5.7% during the 3rd quarter. Detalus Advisors LLC now owns 1,062 shares of the semiconductor manufacturer’s stock valued at $350,000 after purchasing an additional 57 shares during the last quarter. Finally, Cooksen Wealth LLC boosted its position in Broadcom by 100.9% during the third quarter. Cooksen Wealth LLC now owns 1,119 shares of the semiconductor manufacturer’s stock worth $369,000 after purchasing an additional 562 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 2.4%

NASDAQ AVGO opened at $332.79 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 69.91, a PEG ratio of 1.08 and a beta of 1.21. The company has a 50 day moving average of $356.69 and a 200-day moving average of $336.92. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. On average, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a dividend of $0.65 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00. Following the transaction, the insider directly owned 210,573 shares of the company’s stock, valued at $73,094,099.76. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were purchased at an average cost of $325.13 per share, with a total value of $325,130.00. Following the acquisition, the director owned 36,602 shares in the company, valued at $11,900,408.26. This trade represents a 2.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 779,901 shares of company stock valued at $284,069,237. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Benchmark increased their price target on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday, December 12th. Truist Financial boosted their price objective on Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 target price (up previously from $375.00) on shares of Broadcom in a research report on Friday, December 12th. Finally, Barclays reissued an “overweight” rating and set a $500.00 price target (up from $450.00) on shares of Broadcom in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $438.61.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.