Cedar Wealth Management LLC Purchases 216 Shares of Broadcom Inc. (NASDAQ:AVGO)

Cedar Wealth Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 240 shares of the semiconductor manufacturer’s stock after purchasing an additional 216 shares during the period. Cedar Wealth Management LLC’s holdings in Broadcom were worth $41,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVGO. AXA S.A. lifted its stake in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares in the last quarter. Catalyst Financial Partners LLC grew its position in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Whittier Trust Co. increased its stake in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC increased its stake in Broadcom by 912.6% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock valued at $1,691,000 after buying an additional 8,834 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after buying an additional 71,181 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.2 %

NASDAQ AVGO opened at $164.23 on Friday. The company has a market cap of $767.05 billion, a price-to-earnings ratio of 142.68, a PEG ratio of 1.94 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 company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $173.70 and a 200-day moving average of $160.62.

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

Broadcom Increases Dividend

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

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Rosenblatt Securities lowered their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group boosted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. William Blair started coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

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.