2 weeks Ago By ABMN Staff
Granite Bay Wealth Management LLC bought a new stake in shares of Broadcom Inc. ( NASDAQ:AVGO – Free Report ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,905 shares of the semiconductor manufacturer’s stock, valued at approximately $7,875,000.
Broadcom comprises approximately 0.3% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Other large investors have also recently modified their holdings of the company.
Aveo Capital Partners LLC boosted its holdings in Broadcom by 15.9% during the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock valued at $512,000 after acquiring an additional 63 shares during the period.
J. W. Coons Advisors LLC boosted its holdings in Broadcom by 5.
1% during the 4th quarter. J. W.
Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $1,574,000 after acquiring an additional 69 shares during the period. CWA Asset Management Group LLC boosted its holdings in Broadcom by 39.7% during the 4th quarter.
CWA Asset Management Group LLC now owns 1,862 shares of the semiconductor manufacturer’s stock valued at $2,078,000 after acquiring an additional 529 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Broadcom by 39.8% during the 4th quarter.
CIBC Private Wealth Group LLC now owns 93,613 shares of the semiconductor manufacturer’s stock valued at $104,496,000 after acquiring an additional 26,655 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in Broadcom by 6.
3% during the 4th quarter. Royal London Asset Management Ltd. now owns 194,062 shares of the semiconductor manufacturer’s stock valued at $216,622,000 after acquiring an additional 11,525 shares during the period.
Institutional investors own 76.43% of the company’s stock. Broadcom Trading Down 0.
1 % Shares of NASDAQ:AVGO opened at $172.50 on Tuesday. The business’s 50-day moving average is $158.
23 and its 200 day moving average is $148.55. Broadcom Inc.
has a 1 year low of $80.89 and a 1 year high of $185.16.
The firm has a market capitalization of $802.97 billion, a P/E ratio of 7.42, a P/E/G ratio of 2.
78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.
02, a current ratio of 1.04 and a quick ratio of 0.94.
Broadcom Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend.
The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53.
This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%.
Broadcom’s dividend payout ratio is currently 9.12%. Analysts Set New Price Targets A number of research firms recently issued reports on AVGO.
Morgan Stanley boosted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th.
Evercore ISI upped their target price on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th.
TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial upped their target price on Broadcom from $156.60 to $204.
50 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Barclays upped their target price on Broadcom from $150.00 to $200.
00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.
23. Get Our Latest Stock Analysis on Broadcom Insider Activity In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th.
The stock was sold at an average price of $163.37, for a total value of $8,168,500.00.
Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website .
In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.
37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.
70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink . Also, CEO Hock E.
Tan sold 150,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.
00. Following the transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40.
The disclosure for this sale can be found here . Over the last three months, insiders have sold 233,452 shares of company stock valued at $51,278,838. Company insiders own 2.
00% of the company’s stock. 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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