AlphaCore Capital LLC Buys 8,142 Shares of Broadcom Inc. (NASDAQ:AVGO)

AlphaCore Capital LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,001.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,955 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,142 shares during the period. AlphaCore Capital LLC’s holdings in Broadcom were worth $1,545,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Castleview Partners LLC increased its stake in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Tsfg LLC grew its holdings in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Cedar Wealth Management LLC raised its stake in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 216 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Broadcom in the third quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Broadcom during the 3rd quarter worth approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Truist Financial increased their price objective on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, UBS Group raised 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. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Stock Up 0.2 %

NASDAQ AVGO opened at $164.23 on Monday. The business has a fifty day moving average price of $173.70 and a two-hundred day moving average price of $160.62. The stock has a market capitalization of $767.05 billion, a PE 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. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business 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 company earned $0.95 EPS. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s 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 sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the 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 completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % 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 worth $53,540,590 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.