TKG Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 967.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,230 shares of the semiconductor manufacturer's stock after buying an additional 22,867 shares during the period. Broadcom makes up approximately 2.1% of TKG Advisors LLC's portfolio, making the stock its 15th largest position. TKG Advisors LLC's holdings in Broadcom were worth $4,352,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Leeward Financial Partners LLC raised its stake in Broadcom by 1,009.8% during the 3rd quarter. Leeward Financial Partners LLC now owns 17,035 shares of the semiconductor manufacturer's stock worth $2,939,000 after acquiring an additional 15,500 shares in the last quarter. Garrison Asset Management LLC increased its stake in Broadcom by 795.8% in the third quarter. Garrison Asset Management LLC now owns 61,164 shares of the semiconductor manufacturer's stock valued at $10,551,000 after purchasing an additional 54,336 shares during the period. Palisades Hudson Asset Management L.P. increased its stake in Broadcom by 900.0% in the third quarter. Palisades Hudson Asset Management L.P. now owns 1,270 shares of the semiconductor manufacturer's stock valued at $219,000 after purchasing an additional 1,143 shares during the period. QRG Capital Management Inc. increased its stake in Broadcom by 925.8% in the third quarter. QRG Capital Management Inc. now owns 896,707 shares of the semiconductor manufacturer's stock valued at $154,682,000 after purchasing an additional 809,295 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Broadcom by 893.3% in the third quarter. Asset Management One Co. Ltd. now owns 1,995,946 shares of the semiconductor manufacturer's stock valued at $344,301,000 after purchasing an additional 1,795,007 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.
In other news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $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 over the last quarter. Corporate insiders own 2.00% of the company's stock.
Shares of NASDAQ AVGO opened at $183.81 on Friday. Broadcom Inc. has a 12-month low of $89.90 and a 12-month high of $186.42. The company has a market capitalization of $858.50 billion, a PE ratio of 159.70, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. 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 firm's 50-day moving average is $169.80 and its two-hundred day moving average is $156.94.
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 (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The company's revenue for the quarter was up 47.3% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. 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%.
A number of research analysts have commented on the stock. Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. The Goldman Sachs Group lifted 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. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $192.79.
Read Our Latest Report on AVGO
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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