B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 466,724 shares of the semiconductor manufacturer's stock, valued at approximately $80,507,000. Broadcom comprises about 0.8% of B. Metzler seel. Sohn & Co. Holding AG's investment portfolio, making the stock its 26th largest position.
A number of other institutional investors have also recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its stake in Broadcom by 1,377.8% in the third quarter. Banque Cantonale Vaudoise now owns 151,627 shares of the semiconductor manufacturer's stock valued at $26,157,000 after acquiring an additional 141,367 shares during the last quarter. SouthState Corp increased its stake in shares of Broadcom by 767.1% during the 3rd quarter. SouthState Corp now owns 241,219 shares of the semiconductor manufacturer's stock worth $41,610,000 after purchasing an additional 213,399 shares during the last quarter. Vance Wealth Inc. bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $236,000. Summit Wealth Group LLC lifted its stake in Broadcom by 900.0% in the third quarter. Summit Wealth Group LLC now owns 1,840 shares of the semiconductor manufacturer's stock valued at $317,000 after purchasing an additional 1,656 shares during the last quarter. Finally, First City Capital Management Inc. bought a new position in Broadcom during the third quarter valued at $229,000. Institutional investors own 76.43% of the company's stock.
Broadcom stock opened at $163.89 on Friday. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The firm's fifty day moving average price is $173.77 and its 200-day moving average price is $160.37. The stock has a market cap of $765.45 billion, a P/E ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.19%.
In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on AVGO shares. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Benchmark restated a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group increased their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $192.79.
Read Our Latest Report on AVGO
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.
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