Ariadne Wealth Management LP Purchases 277 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ariadne Wealth Management LP raised its position in Broadcom Inc. (NASDAQ:AVGO) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,137 shares of the semiconductor manufacturer’s stock after purchasing an additional 277 shares during the period. Broadcom makes up about 0.9% of Ariadne Wealth Management LP’s investment portfolio, making the stock its 27th biggest holding. Ariadne Wealth Management LP’s holdings in Broadcom were worth $1,697,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in Broadcom during the first quarter worth about $6,649,117,000. GAMMA Investing LLC raised its position in shares of Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Broadcom by 46.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. Northern Trust Corp lifted its holdings in shares of Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company’s stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares of the company’s stock, valued at $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $303.90 on Tuesday. The firm has a 50-day moving average of $273.98 and a 200-day moving average of $227.04. The company has a market cap of $1.43 trillion, a PE ratio of 113.82, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a one year low of $134.90 and a one year high of $310.34.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $10.96 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Analyst Upgrades and Downgrades

Several analysts have commented on AVGO shares. UBS Group raised their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, June 6th. KeyCorp raised their price objective on shares of Broadcom from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Mizuho increased their target price on Broadcom from $315.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Finally, Barclays lifted their price target on Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $294.92.

Broadcom Company Profile

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.