GS Investments Inc. Acquires 10,319 Shares of Broadcom Inc. (NASDAQ:AVGO)

GS Investments Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,465 shares of the semiconductor manufacturer’s stock after buying an additional 10,319 shares during the quarter. GS Investments Inc.’s holdings in Broadcom were worth $1,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Castleview Partners LLC boosted its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the period. Cedar Wealth Management LLC lifted its position in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Broadcom during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $164.23 on Friday. 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 business has a 50-day moving average of $173.70 and a 200-day moving average of $160.62. The stock has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last posted 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 return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue was up 47.3% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 184.35%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred 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 directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Truist Financial boosted 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, William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Company 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.