Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Montag A & Associates Inc.

Montag A & Associates Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,830 shares of the semiconductor manufacturer’s stock after buying an additional 57 shares during the quarter. Montag A & Associates Inc.’s holdings in Broadcom were worth $4,012,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Bollard Group LLC purchased a new position in Broadcom in the second quarter valued at about $26,000. Rise Advisors LLC increased its stake in shares of Broadcom by 76.5% in the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Macroview Investment Management LLC acquired a new stake in Broadcom in the third quarter valued at $29,000. Indiana Trust & Investment Management CO bought a new position in Broadcom during the 3rd quarter valued at $32,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Broadcom during the 2nd quarter worth $42,000. 78.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $1,089.69, for a total value of $21,793,800.00. Following the transaction, the chief executive officer now directly owns 229,796 shares of the company’s stock, valued at approximately $250,406,403.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $1,089.69, for a total transaction of $21,793,800.00. Following the completion of the sale, the chief executive officer now directly owns 229,796 shares in the company, valued at approximately $250,406,403.24. The disclosure for this sale can be found here. Insiders have sold 45,443 shares of company stock worth $50,151,532 over the last ninety days. Insiders own 2.20% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $18.44 during mid-day trading on Monday, reaching $1,265.00. 2,422,595 shares of the company’s stock were exchanged, compared to its average volume of 2,664,939. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.56 and a current ratio of 2.82. The firm has a market capitalization of $592.20 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 2.37 and a beta of 1.25. Broadcom Inc. has a one year low of $572.10 and a one year high of $1,295.97. The business’s fifty day simple moving average is $1,124.64 and its two-hundred day simple moving average is $965.40.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings results on Thursday, December 7th. The semiconductor manufacturer reported $11.06 earnings per share for the quarter, beating analysts’ consensus estimates of $10.96 by $0.10. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.28 billion. Broadcom had a net margin of 39.31% and a return on equity of 73.43%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $9.75 earnings per share. Analysts anticipate that Broadcom Inc. will post 42.71 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, December 20th were paid a $5.25 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $21.00 annualized dividend and a dividend yield of 1.66%. This is an increase from Broadcom’s previous quarterly dividend of $4.60. Broadcom’s dividend payout ratio is currently 63.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVGO shares. Oppenheimer increased their price target on shares of Broadcom from $990.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. TD Cowen lifted their target price on Broadcom from $900.00 to $1,000.00 and gave the stock a “market perform” rating in a research report on Friday, December 8th. Citigroup restated a “buy” rating and set a $1,100.00 price objective on shares of Broadcom in a research note on Monday, December 11th. Truist Financial boosted their target price on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $981.45.

Check Out Our Latest Stock Analysis on Broadcom

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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