Global Retirement Partners LLC Purchases 2,721 Shares of Broadcom Inc. $AVGO

Global Retirement Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,227 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,721 shares during the period. Broadcom accounts for 0.7% of Global Retirement Partners LLC’s holdings, making the stock its 25th biggest position. Global Retirement Partners LLC’s holdings in Broadcom were worth $31,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares during the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares in the last quarter. SageView Advisory Group LLC increased its holdings in shares of Broadcom by 10.9% during the first quarter. SageView Advisory Group LLC now owns 24,119 shares of the semiconductor manufacturer’s stock valued at $4,038,000 after acquiring an additional 2,363 shares in the last quarter. Finally, Integrity Alliance LLC. raised its position in shares of Broadcom by 914.4% in the 1st quarter. Integrity Alliance LLC. now owns 70,097 shares of the semiconductor manufacturer’s stock valued at $11,736,000 after purchasing an additional 63,187 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.1%

Shares of Broadcom stock opened at $343.50 on Thursday. The firm has a 50-day simple moving average of $361.10 and a two-hundred day simple moving average of $329.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a market cap of $1.63 trillion, a P/E ratio of 72.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared 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 was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares of the company’s stock, valued at $87,316,759.10. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the transaction, the insider owned 23,582 shares in the company, valued at $7,730,179.60. The trade was a 7.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 680,701 shares of company stock worth $249,624,757 in the last quarter. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group set a $475.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Monday, December 15th. Raymond James Financial set a $420.00 price target on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. KeyCorp reiterated an “overweight” rating and set a $500.00 price target (up previously from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Oppenheimer increased their price objective on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $430.00 target price (up previously from $375.00) on shares of Broadcom in a report on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $436.89.

Broadcom Profile

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.