Curated Wealth Partners LLC Purchases 1,766 Shares of Broadcom Inc. (NASDAQ:AVGO)

Curated Wealth Partners LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGOFree Report) by 81.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,940 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,766 shares during the quarter. Curated Wealth Partners LLC’s holdings in Broadcom were worth $660,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVGO. Tallon Kerry Patrick bought a new stake in Broadcom in the fourth quarter valued at approximately $357,000. Capital & Planning LLC increased its stake in shares of Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC increased its stake in shares of Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock worth $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Broadcom in the 4th quarter valued at $71,312,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company’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 owns 465,956 shares of the company’s stock, valued at $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $244.28 on Tuesday. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 199.25, a PEG ratio of 2.29 and a beta of 1.11. The stock has a 50-day simple moving average of $205.17 and a two-hundred day simple moving average of $207.37.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.96 earnings per share. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its board has approved a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. 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 currently 88.39%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore ISI raised their price objective on Broadcom from $267.00 to $304.00 and gave the stock an “outperform” rating in a research note on Friday. Mizuho lifted their price target on shares of Broadcom from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial set a $295.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Friday. UBS Group boosted their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday. Finally, Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $272.71.

Check Out Our Latest Stock Report on AVGO

About Broadcom

(Free Report)

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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