Appleton Partners Inc. MA Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Appleton Partners Inc. MA lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,550 shares of the semiconductor manufacturer’s stock after purchasing an additional 167 shares during the quarter. Appleton Partners Inc. MA’s holdings in Broadcom were worth $7,541,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Tsfg LLC raised its position in shares of Broadcom by 218.8% in the 2nd quarter. Tsfg LLC now owns 51 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in Broadcom in the 3rd quarter worth approximately $25,000. Vigilant Capital Management LLC increased its holdings in Broadcom by 124.0% in the 2nd quarter. Vigilant Capital Management LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 31 shares during the period. MV Capital Management Inc. grew its stake in shares of Broadcom by 588.9% during the 2nd quarter. MV Capital Management Inc. now owns 62 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 53 shares during the period. Finally, Red Door Wealth Management LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at approximately $47,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Charlie B. Kawwas sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $500.83, for a total value of $1,502,490.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raul J. Fernandez acquired 152 shares of the company’s stock in a transaction that occurred on Wednesday, September 29th. The shares were acquired at an average cost of $489.54 per share, for a total transaction of $74,410.08. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 25,271 shares of company stock valued at $12,692,042. 2.40% of the stock is owned by company insiders.

A number of research analysts have weighed in on AVGO shares. Jefferies Financial Group restated a “buy” rating and issued a $590.00 price objective on shares of Broadcom in a report on Friday, September 3rd. Citigroup reiterated a “buy” rating and set a $585.00 price target (up previously from $528.00) on shares of Broadcom in a report on Friday, September 3rd. Evercore ISI reiterated a “buy” rating and set a $550.00 price target on shares of Broadcom in a report on Sunday, September 5th. BMO Capital Markets lifted their price target on Broadcom from $575.00 to $625.00 and gave the stock an “outperform” rating in a report on Wednesday, November 10th. They noted that the move was a valuation call. Finally, Rosenblatt Securities lifted their price target on Broadcom from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. Five analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $563.96.

Shares of Broadcom stock traded up $3.61 on Thursday, reaching $558.73. 1,208,395 shares of the company were exchanged, compared to its average volume of 1,802,852. Broadcom Inc. has a 1-year low of $389.00 and a 1-year high of $577.21. The company has a market cap of $229.98 billion, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.41 and a quick ratio of 2.23. The stock’s 50 day moving average price is $521.48 and its 200-day moving average price is $490.79.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping the Zacks’ consensus estimate of $6.88 by $0.08. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.76 billion. Broadcom had a return on equity of 44.27% and a net margin of 22.90%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.40 earnings per share. On average, research analysts predict that Broadcom Inc. will post 24.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Wednesday, September 22nd were paid a dividend of $3.60 per share. This represents a $14.40 annualized dividend and a yield of 2.58%. The ex-dividend date was Tuesday, September 21st. Broadcom’s payout ratio is 106.82%.

About Broadcom

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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