Hollow Brook Wealth Management LLC Buys 1,618 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hollow Brook Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,064.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,770 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,618 shares during the period. Hollow Brook Wealth Management LLC’s holdings in Broadcom were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Holocene Advisors LP bought a new position in Broadcom in the 3rd quarter valued at about $129,310,000. Chevy Chase Trust Holdings LLC grew its position in shares of Broadcom by 995.1% in the third quarter. Chevy Chase Trust Holdings LLC now owns 2,663,819 shares of the semiconductor manufacturer’s stock valued at $459,509,000 after purchasing an additional 2,420,575 shares during the last quarter. Cinctive Capital Management LP increased its stake in shares of Broadcom by 1,381.3% during the third quarter. Cinctive Capital Management LP now owns 23,894 shares of the semiconductor manufacturer’s stock worth $4,122,000 after purchasing an additional 22,281 shares during the period. Clear Street Derivatives LLC acquired a new stake in Broadcom during the 3rd quarter worth approximately $4,209,000. Finally, Coastwise Capital Group LLC boosted its stake in Broadcom by 904.4% in the 3rd quarter. Coastwise Capital Group LLC now owns 2,049 shares of the semiconductor manufacturer’s stock valued at $353,000 after purchasing an additional 1,845 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial upped their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Trading Up 1.5 %

NASDAQ:AVGO opened at $162.08 on Monday. The company has a market cap of $757.01 billion, a P/E ratio of 140.94, a P/E/G ratio of 1.91 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 debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock’s fifty day moving average price is $173.39 and its two-hundred day moving average price is $161.69.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 184.35%.

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.