1776 Wealth LLC Buys 2,171 Shares of Broadcom Inc. $AVGO

1776 Wealth LLC boosted its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 70.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,270 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,171 shares during the period. Broadcom comprises approximately 0.7% of 1776 Wealth LLC’s portfolio, making the stock its 26th biggest holding. 1776 Wealth LLC’s holdings in Broadcom were worth $1,739,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares during the period. United Bank lifted its position in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC raised its stake in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.8%

Shares of AVGO stock opened at $325.17 on Friday. The business has a 50-day moving average price of $343.88 and a two-hundred day moving average price of $340.53. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.54 trillion, a P/E ratio of 68.31, a price-to-earnings-growth ratio of 1.05 and a beta of 1.21.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue was up 28.2% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is 54.62%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Mizuho set a $480.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a report on Friday, January 9th. KeyCorp reaffirmed an “overweight” rating and set a $500.00 price objective (up previously from $460.00) on shares of Broadcom in a research note on Friday, December 12th. UBS Group set a $475.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Susquehanna reissued a “positive” rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $433.87.

View Our Latest Stock Analysis on Broadcom

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 38,281 shares of Broadcom stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares of the company’s stock, valued at $87,316,759.10. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 130,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the sale, the chief executive officer owned 595,638 shares of the company’s stock, valued at $194,189,900.76. This represents a 17.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 779,101 shares of company stock valued at $283,804,325 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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