Howe & Rusling Inc. Has $35.58 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Howe & Rusling Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 909.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 206,239 shares of the semiconductor manufacturer’s stock after buying an additional 185,816 shares during the period. Broadcom comprises approximately 3.1% of Howe & Rusling Inc.’s holdings, making the stock its 6th largest holding. Howe & Rusling Inc.’s holdings in Broadcom were worth $35,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Gamco Investors INC. ET AL increased its holdings in Broadcom by 80.5% in the first quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock valued at $1,189,000 after purchasing an additional 400 shares during the last quarter. Bamco Inc. NY grew its position in shares of Broadcom by 13,754.9% during the 1st quarter. Bamco Inc. NY now owns 23,969 shares of the semiconductor manufacturer’s stock worth $31,769,000 after buying an additional 23,796 shares during the period. Mount Yale Investment Advisors LLC raised its position in shares of Broadcom by 1.8% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 2,372 shares of the semiconductor manufacturer’s stock valued at $3,144,000 after acquiring an additional 42 shares during the period. Earnest Partners LLC boosted its stake in Broadcom by 11.8% during the 1st quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer’s stock worth $276,000 after acquiring an additional 22 shares during the last quarter. Finally, Caxton Associates LP grew its holdings in Broadcom by 5,434.5% during the first quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer’s stock valued at $62,938,000 after purchasing an additional 46,628 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on AVGO. Rosenblatt Securities cut their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. The Goldman Sachs Group increased their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Trading Up 0.2 %

AVGO stock opened at $164.23 on Friday. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The stock has a market cap of $767.05 billion, a price-to-earnings ratio of 142.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a fifty day moving average price of $173.70 and a two-hundred day moving average price of $160.62. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its 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 business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current 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 issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. 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. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

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.