Signature Wealth Management Group Sells 74 Shares of Broadcom Inc (NASDAQ:AVGO)

Signature Wealth Management Group lessened its holdings in Broadcom Inc (NASDAQ:AVGO) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,297 shares of the semiconductor manufacturer’s stock after selling 74 shares during the quarter. Signature Wealth Management Group’s holdings in Broadcom were worth $634,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AVGO. Buckingham Capital Management Inc. raised its holdings in shares of Broadcom by 16.4% in the 1st quarter. Buckingham Capital Management Inc. now owns 15,935 shares of the semiconductor manufacturer’s stock worth $4,792,000 after purchasing an additional 2,243 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Broadcom by 12.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,666,266 shares of the semiconductor manufacturer’s stock valued at $501,062,000 after acquiring an additional 181,372 shares during the period. Park National Corp OH raised its holdings in shares of Broadcom by 105.1% during the second quarter. Park National Corp OH now owns 29,681 shares of the semiconductor manufacturer’s stock valued at $8,544,000 after acquiring an additional 15,209 shares during the period. Private Trust Co. NA raised its holdings in shares of Broadcom by 45.1% during the second quarter. Private Trust Co. NA now owns 2,231 shares of the semiconductor manufacturer’s stock valued at $642,000 after acquiring an additional 693 shares during the period. Finally, LVM Capital Management Ltd. MI raised its holdings in shares of Broadcom by 13.3% during the second quarter. LVM Capital Management Ltd. MI now owns 26,165 shares of the semiconductor manufacturer’s stock valued at $7,532,000 after acquiring an additional 3,070 shares during the period. 84.96% of the stock is owned by institutional investors.

AVGO stock traded up $2.94 during trading hours on Monday, hitting $289.67. The company’s stock had a trading volume of 1,267,479 shares, compared to its average volume of 2,304,498. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $114.81 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.44 and a beta of 0.89. Broadcom Inc has a 12 month low of $208.23 and a 12 month high of $323.20. The stock has a 50 day moving average price of $283.13 and a two-hundred day moving average price of $286.70.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.10 by ($0.11). The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.98 earnings per share. Sell-side analysts expect that Broadcom Inc will post 16.97 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 23rd were issued a dividend of $2.65 per share. This represents a $10.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, September 20th. Broadcom’s dividend payout ratio is currently 56.29%.

A number of equities research analysts have recently issued reports on AVGO shares. Cascend Securities boosted their price target on shares of Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. set a $350.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. SunTrust Banks set a $322.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Friday, September 27th. Jefferies Financial Group set a $350.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Susquehanna Bancshares boosted their price target on shares of Broadcom from $315.00 to $345.00 and gave the company a “positive” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $312.06.

In related news, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $288.71, for a total transaction of $5,774,200.00. Also, insider Mark David Brazeal sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $289.43, for a total transaction of $578,860.00. Over the last ninety days, insiders have sold 62,000 shares of company stock valued at $17,550,860. 3.30% of the stock is owned by insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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