Curated Wealth Partners LLC Has $660,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Curated Wealth Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 81.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,940 shares of the semiconductor manufacturer's stock after purchasing an additional 1,766 shares during the quarter. Curated Wealth Partners LLC's holdings in Broadcom were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom during the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom during the 4th quarter worth about $32,000. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AVGO shares. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Benchmark boosted their price objective on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. UBS Group upped their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. Two research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $272.71.

Broadcom Stock Down 2.9%

Shares of AVGO traded down $7.37 on Friday, hitting $248.70. The company's stock had a trading volume of 19,002,301 shares, compared to its average volume of 30,540,402. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm's fifty day moving average price is $213.01 and its 200-day moving average price is $209.15. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the firm earned $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Broadcom announced that its board has approved a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider now owns 789,784 shares of the company's stock, valued at $199,720,577.92. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 730,576 shares of company stock valued at $133,778,494 in the last quarter. 2.00% of the stock is currently owned by insiders.

About Broadcom

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.