Broadcom Inc. (NASDAQ:AVGO) Holdings Lifted by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 919.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 100,743 shares of the semiconductor manufacturer’s stock after buying an additional 90,857 shares during the quarter. Broadcom makes up about 1.4% of Verdence Capital Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Verdence Capital Advisors LLC’s holdings in Broadcom were worth $17,378,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Beta Wealth Group Inc. bought a new stake in shares of Broadcom during the 3rd quarter valued at about $846,000. Pegasus Partners Ltd. lifted its holdings in Broadcom by 1,253.3% in the third quarter. Pegasus Partners Ltd. now owns 2,490 shares of the semiconductor manufacturer’s stock worth $430,000 after buying an additional 2,306 shares during the period. Carson Advisory Inc. boosted its position in Broadcom by 854.5% during the 3rd quarter. Carson Advisory Inc. now owns 1,489 shares of the semiconductor manufacturer’s stock valued at $257,000 after acquiring an additional 1,333 shares in the last quarter. Rovin Capital UT ADV grew its holdings in shares of Broadcom by 1,194.6% during the 3rd quarter. Rovin Capital UT ADV now owns 4,829 shares of the semiconductor manufacturer’s stock worth $833,000 after acquiring an additional 4,456 shares during the period. Finally, Executive Wealth Management LLC raised its position in shares of Broadcom by 3,892.6% in the 3rd quarter. Executive Wealth Management LLC now owns 17,368 shares of the semiconductor manufacturer’s stock worth $2,996,000 after acquiring an additional 16,933 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 2.6 %

Shares of Broadcom stock opened at $178.91 on Tuesday. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company’s fifty day simple moving average is $170.75 and its 200-day simple moving average is $157.78. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market capitalization of $835.61 billion, a PE ratio of 155.44, a P/E/G ratio of 2.16 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its 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 analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current 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 dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

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.