Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Hedeker Wealth LLC

Hedeker Wealth LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 894.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,286 shares of the semiconductor manufacturer’s stock after purchasing an additional 92,897 shares during the period. Broadcom comprises approximately 4.7% of Hedeker Wealth LLC’s investment portfolio, making the stock its 2nd biggest holding. Hedeker Wealth LLC’s holdings in Broadcom were worth $17,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Lion Street Advisors LLC grew its position in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after purchasing an additional 6 shares during the last quarter. O Dell Group LLC grew its position in Broadcom by 2.3% during the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock worth $472,000 after purchasing an additional 8 shares during the last quarter. Hudson Value Partners LLC grew its position in Broadcom by 2.7% during the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer’s stock worth $408,000 after purchasing an additional 8 shares during the last quarter. Renasant Bank grew its position in Broadcom by 1.0% during the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer’s stock worth $1,040,000 after purchasing an additional 8 shares during the last quarter. Finally, Optimum Investment Advisors grew its position in Broadcom by 0.6% during the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock worth $2,262,000 after purchasing an additional 8 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Oppenheimer reduced their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $168.92 on Friday. Broadcom Inc. has a 12 month low of $86.00 and a 12 month high of $186.42. The company has a 50-day simple moving average of $168.94 and a 200-day simple moving average of $156.03. The company has a market cap of $788.95 billion, a PE ratio of 146.76, a price-to-earnings-growth 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.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. Broadcom’s revenue was up 47.3% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share 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 paid a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.26%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % 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 over the last ninety days. 2.00% of the stock is owned by company insiders.

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.