RWA Wealth Partners LLC Has $84.35 Million Stock Holdings in Broadcom Inc. $AVGO

RWA Wealth Partners LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 8.4% during the third quarter, HoldingsChannel reports. The fund owned 255,666 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,853 shares during the quarter. Broadcom comprises 1.0% of RWA Wealth Partners LLC’s holdings, making the stock its 16th largest position. RWA Wealth Partners LLC’s holdings in Broadcom were worth $84,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the second quarter valued at $27,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Broadcom in the 2nd quarter valued at about $28,000. New England Capital Financial Advisors LLC bought a new stake in shares of Broadcom in the 2nd quarter valued at about $31,000. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom in the third quarter valued at about $31,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Broadcom during the third quarter worth about $34,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 2.1%

NASDAQ:AVGO opened at $332.31 on Thursday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.04 and a beta of 1.21. The firm has a fifty day simple moving average of $336.92 and a two-hundred day simple moving average of $342.35.

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

Broadcom Increases Dividend

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

Insider Activity

In related news, insider Charlie B. Kawwas sold 1,928 shares of Broadcom stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the sale, the insider owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, December 18th. The shares were acquired at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the acquisition, the director owned 36,602 shares of the company’s stock, valued at approximately $11,900,408.26. The trade was a 2.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 779,101 shares of company stock valued at $283,804,325. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial upped their target price on Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 19th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Piper Sandler reiterated an “overweight” rating and set a $430.00 price objective (up from $375.00) on shares of Broadcom in a research report on Friday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Finally, Morgan Stanley upped their price target on shares of Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average price target of $433.13.

View Our Latest Analysis on Broadcom

Broadcom News Summary

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Broadcom 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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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