Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Wealth Dimensions Group Ltd.

Wealth Dimensions Group Ltd. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,001.6% in the third quarter, Holdings Channel.com reports. The firm owned 4,043 shares of the semiconductor manufacturer’s stock after buying an additional 3,676 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Broadcom were worth $697,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.0 %

AVGO opened at $164.74 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $769.43 billion, a PE ratio of 143.13, a P/E/G ratio of 1.93 and a beta of 1.17. The stock’s fifty day moving average is $173.76 and its 200-day moving average is $161.09. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $195.96.

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.