Carolina Wealth Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 372.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 32,263 shares of the semiconductor manufacturer’s stock after buying an additional 25,435 shares during the period. Broadcom accounts for about 2.8% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Carolina Wealth Advisors LLC’s holdings in Broadcom were worth $5,565,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AXA S.A. grew its holdings in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Godsey & Gibb Inc. lifted its position in Broadcom by 887.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 180,672 shares of the semiconductor manufacturer’s stock worth $31,166,000 after buying an additional 162,366 shares in the last quarter. Renaissance Investment Group LLC grew its holdings in Broadcom by 851.2% during the 3rd quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after acquiring an additional 108,251 shares during the last quarter. MRA Advisory Group increased its position in Broadcom by 954.1% in the 3rd quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after acquiring an additional 8,558 shares in the last quarter. Finally, Cadent Capital Advisors LLC raised its stake in shares of Broadcom by 1,799.1% in the third quarter. Cadent Capital Advisors LLC now owns 8,299 shares of the semiconductor manufacturer’s stock worth $1,432,000 after acquiring an additional 7,862 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Broadcom
In other news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by company insiders.
Broadcom Trading Down 0.3 %
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. Broadcom’s dividend payout ratio is presently 9.12%.
Wall Street Analyst Weigh In
AVGO has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and set a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Rosenblatt Securities dropped 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. Finally, Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.54.
View Our Latest Stock Analysis on AVGO
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.
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