Drucker Wealth 3.0 LLC Makes New $233,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Drucker Wealth 3.0 LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,353 shares of the semiconductor manufacturer’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Kiely Wealth Advisory Group Inc. purchased a new position in Broadcom in the 2nd quarter worth approximately $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Broadcom during the second quarter valued at approximately $136,000. American Capital Advisory LLC purchased a new position in shares of Broadcom in the second quarter valued at $169,000. Semus Wealth Partners LLC acquired a new stake in Broadcom during the 2nd quarter valued at $202,000. Finally, Palisades Hudson Asset Management L.P. purchased a new stake in Broadcom during the 2nd quarter worth $204,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AVGO shares. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Truist Financial increased their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.96.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $178.94 on Tuesday. Broadcom Inc. has a 12-month low of $95.61 and a 12-month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $835.75 billion, a PE ratio of 155.60, a P/E/G ratio of 2.11 and a beta of 1.13. The stock has a 50 day simple moving average of $173.14 and a 200-day simple moving average of $163.05.

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.