Omnia Family Wealth LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Omnia Family Wealth LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 1,322.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,347 shares of the semiconductor manufacturer’s stock after buying an additional 2,182 shares during the quarter. Omnia Family Wealth LLC’s holdings in Broadcom were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Nicola Wealth Management LTD. acquired a new position in Broadcom during the 3rd quarter worth $18,802,000. MeadowBrook Investment Advisors LLC grew its stake in Broadcom by 1,358.5% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 3,340 shares of the semiconductor manufacturer’s stock worth $576,000 after purchasing an additional 3,111 shares in the last quarter. Lifeworks Advisors LLC grew its stake in Broadcom by 1,174.7% during the 3rd quarter. Lifeworks Advisors LLC now owns 20,828 shares of the semiconductor manufacturer’s stock worth $3,593,000 after purchasing an additional 19,194 shares in the last quarter. Intelligence Driven Advisers LLC grew its stake in Broadcom by 563.6% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 4,652 shares of the semiconductor manufacturer’s stock worth $802,000 after purchasing an additional 3,951 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Broadcom by 966.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 122,209 shares of the semiconductor manufacturer’s stock worth $21,081,000 after acquiring an additional 110,750 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities lowered 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. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Down 3.3 %

AVGO opened at $164.84 on Monday. The business has a 50 day moving average price of $172.84 and a two-hundred day moving average price of $159.35. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $769.90 billion, a PE ratio of 143.21, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is 184.19%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.