Wagner Wealth Management LLC Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Wagner Wealth Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 657.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,919 shares of the semiconductor manufacturer’s stock after buying an additional 6,873 shares during the period. Wagner Wealth Management LLC’s holdings in Broadcom were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AVGO. Legend Financial Advisors Inc. boosted its position in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of Broadcom in the first quarter worth approximately $29,000. Delta Asset Management LLC TN grew its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in Broadcom during the first quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC bought a new position in Broadcom in the fourth quarter worth approximately $43,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 2.3 %

Shares of AVGO opened at $181.48 on Monday. The company’s fifty day simple moving average is $162.91 and its 200-day simple moving average is $151.64. The company has a market cap of $844.77 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.99 and a beta of 1.17. 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 Inc. has a twelve month low of $81.83 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.17%. 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 9.12%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer cut their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Finally, Benchmark restated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $190.29.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 295,130 shares of company stock worth $50,646,622 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom 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.