Arete Wealth Advisors LLC Buys 1,690 Shares of Broadcom Inc. $AVGO

Arete Wealth Advisors LLC boosted its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,164 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,690 shares during the period. Broadcom comprises approximately 0.8% of Arete Wealth Advisors LLC’s portfolio, making the stock its 25th biggest holding. Arete Wealth Advisors LLC’s holdings in Broadcom were worth $13,262,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Holderness Investments Co. lifted its position in shares of Broadcom by 2.0% during the 3rd quarter. Holderness Investments Co. now owns 39,644 shares of the semiconductor manufacturer’s stock valued at $13,079,000 after buying an additional 793 shares during the last quarter. Creekmur Asset Management LLC raised its stake in Broadcom by 2.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 9,465 shares of the semiconductor manufacturer’s stock valued at $3,122,000 after acquiring an additional 190 shares during the period. APG Asset Management N.V. raised its stake in Broadcom by 10.2% in the 3rd quarter. APG Asset Management N.V. now owns 5,518,358 shares of the semiconductor manufacturer’s stock valued at $1,820,561,000 after acquiring an additional 512,795 shares during the period. Sierra Summit Advisors LLC lifted its holdings in Broadcom by 3.8% during the third quarter. Sierra Summit Advisors LLC now owns 10,532 shares of the semiconductor manufacturer’s stock valued at $3,475,000 after purchasing an additional 390 shares during the last quarter. Finally, Aprio Wealth Management LLC boosted its position in Broadcom by 8.3% during the third quarter. Aprio Wealth Management LLC now owns 11,996 shares of the semiconductor manufacturer’s stock worth $3,957,000 after purchasing an additional 923 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was bought at an average cost of $325.13 per share, with a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 779,101 shares of company stock valued at $283,804,325 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.7%

AVGO opened at $319.55 on Friday. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 67.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company has a fifty day moving average price of $336.34 and a 200-day moving average price of $342.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58.

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

Broadcom Increases Dividend

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

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Wolfe Research upgraded shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price for the company in a research note on Friday, January 30th. Piper Sandler reiterated an “overweight” rating and issued a $430.00 price objective (up from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Susquehanna reissued a “positive” rating and set a $450.00 target price (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. TD Cowen reaffirmed a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Finally, Truist Financial lifted their price target on Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $433.13.

Get Our Latest Stock Analysis on AVGO

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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