Great Diamond Partners LLC Buys 21,599 Shares of Broadcom Inc. (NASDAQ:AVGO)

Great Diamond Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 771.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,397 shares of the semiconductor manufacturer’s stock after acquiring an additional 21,599 shares during the quarter. Broadcom accounts for approximately 1.1% of Great Diamond Partners LLC’s investment portfolio, making the stock its 23rd biggest holding. Great Diamond Partners LLC’s holdings in Broadcom were worth $4,209,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Delta Asset Management LLC TN boosted 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 worth $32,000 after purchasing an additional 17 shares during the period. Clear Point Advisors Inc. lifted its stake in shares of Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after buying an additional 31 shares during the last quarter. Ruedi Wealth Management Inc. boosted its holdings in shares of Broadcom by 104.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer’s stock worth $68,000 after buying an additional 26 shares during the period. Indiana Trust & Investment Management CO grew its stake in Broadcom by 39.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock valued at $85,000 after buying an additional 15 shares during the last quarter. Finally, Creekmur Asset Management LLC raised its holdings in Broadcom by 89.7% in the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock valued at $98,000 after acquiring an additional 35 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the company’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 directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $168.92 on Friday. The stock has a market cap of $788.95 billion, a price-to-earnings ratio of 146.76, a P/E/G ratio of 2.84 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 company has a 50 day simple moving average of $168.94 and a 200 day simple moving average of $156.03. Broadcom Inc. has a 1 year low of $86.00 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Rosenblatt Securities reduced their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two investment 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.54.

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.