Broadcom Inc. $AVGO Shares Purchased by ORG Wealth Partners LLC

ORG Wealth Partners LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 236.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,857 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,412 shares during the period. ORG Wealth Partners LLC’s holdings in Broadcom were worth $1,602,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. State Street Corp grew its stake in Broadcom by 0.5% during the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after purchasing an additional 873,963 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after buying an additional 2,226,585 shares during the period. Norges Bank acquired a new position in shares of Broadcom during the second quarter worth about $18,579,549,000. Finally, Invesco Ltd. increased its stake in shares of Broadcom by 8.4% during the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after buying an additional 2,978,768 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 0.9%

Shares of NASDAQ AVGO opened at $343.02 on Friday. The business has a 50-day moving average price of $358.94 and a 200 day moving average price of $332.69. The stock has a market cap of $1.63 trillion, a PE ratio of 72.06, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is currently 54.62%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 320,316 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the sale, the chief financial officer owned 277,237 shares of the company’s stock, valued at approximately $96,428,573.34. The trade was a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 779,901 shares of company stock worth $284,069,237. Insiders own 2.00% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

Analyst Ratings Changes

A number of research analysts recently issued reports on AVGO shares. Oppenheimer lifted their price target on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Truist Financial boosted their target price on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 price target (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. JPMorgan Chase & Co. lifted their price target on Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, Robert W. Baird set a $420.00 price objective on Broadcom in a research report on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $438.61.

Read Our Latest Analysis on AVGO

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.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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