Pathstone Family Office LLC Buys 11,587 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pathstone Family Office LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 88.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,719 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,587 shares during the period. Pathstone Family Office LLC’s holdings in Broadcom were worth $20,544,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC grew its holdings in shares of Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Bollard Group LLC bought a new stake in Broadcom in the 2nd quarter worth $26,000. Macroview Investment Management LLC bought a new stake in Broadcom in the 3rd quarter worth $29,000. Indiana Trust & Investment Management CO bought a new stake in Broadcom in the 3rd quarter worth $32,000. Finally, VitalStone Financial LLC grew its holdings in Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $1,089.69, for a total value of $21,793,800.00. Following the completion of the transaction, the chief executive officer now directly owns 229,796 shares in the company, valued at $250,406,403.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were 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 owns 229,796 shares of the company’s stock, valued at $250,406,403.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 2,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $1,116.00, for a total transaction of $2,232,000.00. Following the completion of the transaction, the insider now directly owns 91,380 shares in the company, valued at approximately $101,980,080. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,443 shares of company stock worth $50,151,532. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Broadcom from $1,010.00 to $1,100.00 and gave the stock a “positive” rating in a report on Tuesday, November 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,300.00 price target on shares of Broadcom in a report on Monday, January 29th. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Citigroup reaffirmed a “buy” rating and set a $1,100.00 target price on shares of Broadcom in a research note on Monday, December 11th. Finally, TD Cowen lifted their target price on shares of Broadcom from $900.00 to $1,000.00 and gave the company a “market perform” rating in a research note on Friday, December 8th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $981.45.

Read Our Latest Analysis on AVGO

Broadcom Stock Performance

Shares of AVGO stock traded down $22.31 during trading hours on Tuesday, reaching $1,220.79. The company had a trading volume of 1,478,575 shares, compared to its average volume of 2,661,189. The business has a fifty day moving average price of $1,098.74 and a 200-day moving average price of $955.34. Broadcom Inc. has a one year low of $572.10 and a one year high of $1,284.55. The firm has a market cap of $571.50 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.56 and a current ratio of 2.82.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its earnings results on Thursday, December 7th. The semiconductor manufacturer reported $11.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.96 by $0.10. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $9.75 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 42.76 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, December 20th were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.72%. This is a positive change from Broadcom’s previous quarterly dividend of $4.60. The ex-dividend date of this dividend was Tuesday, December 19th. Broadcom’s payout ratio is 63.75%.

Broadcom Company 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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