Foster Victor Wealth Advisors LLC Purchases 5,710 Shares of Broadcom Inc (NASDAQ:AVGO)

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Foster Victor Wealth Advisors LLC increased its position in shares of Broadcom Inc (NASDAQ:AVGO) by 162.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,228 shares of the semiconductor manufacturer’s stock after buying an additional 5,710 shares during the quarter. Broadcom accounts for about 1.4% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 16th biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Broadcom were worth $2,548,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CRA Financial Services LLC grew its stake in Broadcom by 2.0% in the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after purchasing an additional 33 shares in the last quarter. Liberty Wealth Management LLC grew its stake in Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 35 shares in the last quarter. Tarbox Family Office Inc. grew its stake in Broadcom by 20.2% in the second quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after purchasing an additional 36 shares in the last quarter. Enterprise Financial Services Corp grew its stake in Broadcom by 14.7% in the second quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 37 shares in the last quarter. Finally, Cresset Asset Management LLC grew its stake in Broadcom by 2.0% in the second quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Broadcom from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Charter Equity downgraded Broadcom from a “buy” rating to a “market perform” rating and set a $254.00 price target for the company. in a research note on Friday, June 14th. Summit Redstone upgraded Broadcom to a “buy” rating in a research note on Friday, June 14th. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating and set a $253.03 price target for the company in a research note on Friday, June 14th. Finally, SunTrust Banks set a $322.00 price target on Broadcom and gave the company a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $312.06.

NASDAQ:AVGO traded up $6.83 during mid-day trading on Friday, hitting $281.28. 226,984 shares of the stock were exchanged, compared to its average volume of 2,646,302. The stock has a market capitalization of $107.23 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The firm’s 50-day simple moving average is $281.96 and its 200 day simple moving average is $287.16. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.18 and a current ratio of 1.32. Broadcom Inc has a fifty-two week low of $208.23 and a fifty-two week high of $323.20.

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

The company also recently declared 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. The ex-dividend date of this dividend was Friday, September 20th. This represents a $10.60 annualized dividend and a yield of 3.77%. Broadcom’s payout ratio is currently 56.29%.

In related news, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $270.46, for a total transaction of $5,409,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 60,000 shares of company stock valued at $17,026,600. 3.30% of the stock is currently 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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