Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 711.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,364 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,717 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Broadcom were worth $2,305,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Jennison Associates LLC lifted its position in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadcom by 962.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock valued at $5,519,591,000 after buying an additional 28,985,434 shares during the period. Fisher Asset Management LLC boosted its stake in Broadcom by 938.8% during the third quarter. Fisher Asset Management LLC now owns 23,422,781 shares of the semiconductor manufacturer’s stock valued at $4,040,430,000 after buying an additional 21,168,095 shares in the last quarter. Swedbank AB grew its holdings in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Finally, Swiss National Bank raised its position in Broadcom by 907.0% in the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after acquiring an additional 11,822,467 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.0 %

Shares of NASDAQ:AVGO opened at $164.74 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock 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. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The firm has a fifty day moving average price of $173.76 and a 200 day moving average price of $161.09.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The firm’s revenue was up 47.3% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Rosenblatt Securities cut their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

Broadcom Profile

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.