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

Triad Wealth Partners LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 67.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,402 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,071 shares during the period. Broadcom accounts for approximately 1.2% of Triad Wealth Partners LLC’s holdings, making the stock its 23rd biggest position. Triad Wealth Partners LLC’s holdings in Broadcom were worth $9,040,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AVGO. Norges Bank acquired a new position in shares of Broadcom during the 2nd quarter valued at $18,579,549,000. Vanguard Group Inc. boosted its stake in Broadcom by 1.3% during 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 buying an additional 6,222,802 shares in the last quarter. Edgewood Management LLC bought a new position in Broadcom during the second quarter valued at about $1,571,438,000. Massachusetts Financial Services Co. MA grew its holdings in Broadcom by 115.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock worth $1,658,680,000 after acquiring an additional 3,224,739 shares during the period. Finally, Invesco Ltd. raised its position in Broadcom by 8.4% in the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after acquiring an additional 2,978,768 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the sale, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. This represents a 9.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 130,000 shares of Broadcom stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total value of $42,382,600.00. Following the sale, the chief executive officer directly owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. The trade was a 17.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 779,901 shares of company stock worth $284,069,237 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVGO shares. UBS Group set a $475.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Monday, December 15th. Piper Sandler restated an “overweight” rating and set a $430.00 target price (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Truist Financial lifted their price target on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Robert W. Baird set a $420.00 price objective on Broadcom in a research report on Friday, December 12th. Finally, Mizuho set a $480.00 price objective on Broadcom and gave the stock an “outperform” rating in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $438.61.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $332.79 on Wednesday. The company’s fifty day moving average is $356.69 and its two-hundred day moving average is $336.92. 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 12-month low of $138.10 and a 12-month high of $414.61. The company has a market cap of $1.58 trillion, a P/E ratio of 69.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping 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 business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter last year, the firm posted $1.42 earnings per share. Broadcom’s revenue was up 28.2% compared to the same quarter last year. Equities 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 dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is presently 54.62%.

About Broadcom

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.