Wealth Dimensions Group Ltd. Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Wealth Dimensions Group Ltd. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,001.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,043 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,676 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Broadcom were worth $697,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Seldon Capital LP increased its holdings in Broadcom by 900.0% in the third quarter. Seldon Capital LP now owns 1,920 shares of the semiconductor manufacturer’s stock valued at $331,000 after buying an additional 1,728 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in Broadcom by 1,102.8% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 6,940 shares of the semiconductor manufacturer’s stock valued at $1,197,000 after purchasing an additional 6,363 shares in the last quarter. Larson Financial Group LLC raised its holdings in Broadcom by 996.4% during the third quarter. Larson Financial Group LLC now owns 62,439 shares of the semiconductor manufacturer’s stock worth $10,771,000 after purchasing an additional 56,744 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its position in Broadcom by 871.3% during the third quarter. Sompo Asset Management Co. Ltd. now owns 19,620 shares of the semiconductor manufacturer’s stock worth $3,384,000 after purchasing an additional 17,600 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. acquired a new stake in Broadcom in the third quarter valued at $339,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Truist Financial upped their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-three 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Insider Activity at Broadcom

In related news, 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 transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $164.74 on Wednesday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm’s 50 day moving average is $173.76 and its two-hundred day moving average is $161.09. The company has a market cap of $769.43 billion, a P/E ratio of 143.13, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its 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. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.19%.

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.