Kavar Capital Partners Group LLC Buys 3,474 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kavar Capital Partners Group LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,860 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,474 shares during the period. Kavar Capital Partners Group LLC’s holdings in Broadcom were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Leeward Financial Partners LLC bought a new position in shares of Broadcom during the 1st quarter worth about $212,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Broadcom during the 1st quarter worth about $36,000. Valley National Advisers Inc. increased its position in shares of Broadcom by 4.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,143 shares of the semiconductor manufacturer’s stock worth $1,514,000 after purchasing an additional 47 shares in the last quarter. Red Tortoise LLC increased its position in shares of Broadcom by 32.3% during the 1st quarter. Red Tortoise LLC now owns 82 shares of the semiconductor manufacturer’s stock worth $109,000 after purchasing an additional 20 shares in the last quarter. Finally, Community Bank & Trust Waco Texas increased its position in Broadcom by 0.7% in the 1st quarter. Community Bank & Trust Waco Texas now owns 2,743 shares of the semiconductor manufacturer’s stock valued at $3,636,000 after acquiring an additional 19 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of AVGO opened at $179.24 on Wednesday. The company has a market cap of $834.34 billion, a price-to-earnings ratio of 155.86, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $82.72 and a 1-year high of $186.42. The company’s fifty day simple moving average is $168.53 and its 200 day simple moving average is $155.27. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, research analysts forecast 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 given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio is presently 184.35%.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Truist Financial raised their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $191.54.

About Broadcom

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.