Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Curated Wealth Partners LLC

Curated Wealth Partners LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 81.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,940 shares of the semiconductor manufacturer’s stock after buying an additional 1,766 shares during the quarter. Curated Wealth Partners LLC’s holdings in Broadcom were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canton Hathaway LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom during the 4th quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter valued at about $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO opened at $244.28 on Tuesday. The company’s 50 day simple moving average is $205.17 and its 200-day simple moving average is $207.37. The firm has a market cap of $1.15 trillion, a PE ratio of 199.25, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.96 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares of the company’s stock, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Morgan Stanley increased their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday. Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They set a “buy” rating and a $301.00 target price for the company. Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a report on Friday. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Benchmark raised their price objective on shares of Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $272.71.

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.