Altman Advisors Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 895.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,017 shares of the semiconductor manufacturer's stock after buying an additional 18,006 shares during the period. Broadcom comprises about 1.5% of Altman Advisors Inc.'s investment portfolio, making the stock its 11th largest position. Altman Advisors Inc.'s holdings in Broadcom were worth $3,453,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in AVGO. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Tsfg LLC raised its stake in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 204 shares in the last quarter. Cedar Wealth Management LLC lifted its holdings in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after buying an additional 216 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Broadcom in the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Broadcom in the 3rd quarter valued at approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.
AVGO opened at $164.23 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $767.05 billion, a PE ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. The stock's fifty day moving average is $173.70 and its 200-day moving average is $160.62. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 1.29%. Broadcom's payout ratio is 184.35%.
In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company's stock.
AVGO has been the subject of several research reports. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Benchmark reissued a "buy" rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, Rosenblatt Securities reduced their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.
Read Our Latest Research Report on AVGO
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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