Billionaire Ray Dalio Is Selling These 5 Tech Stocks

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 66

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. The company has an impressive dividend history stretching back close to a decade. It has paid a consistent dividend to shareholders for the last ten years. Over the past decade, this payout has registered consistent growth as well, in a sector where the median in this regard is just two years. In early September, the firm declared a quarterly dividend of $4.10 per share, in line with previous. The forward yield was 3.34%. 

On September 2, Truist analyst William Stein maintained a Buy rating on Broadcom Inc. (NASDAQ:AVGO) stock and lowered the price target to $630 from $658, appreciating the earnings beat and guidance numbers of the firm in the second quarter. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Cantillon Capital Management is a leading shareholder in Broadcom Inc. (NASDAQ:AVGO), with 1 million shares worth more than $500 million.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Broadcom Inc. (NASDAQ:AVGO) was one of them. Here is what the fund said:

“However, ClearBridge portfolio companies are responding by supporting their workforces and showing resilience in adapting and thriving. Semiconductor companies ClearBridge owns and engages with have been successful in advancing vaccinations in their global supply chains. In Malaysia, for example, Broadcom Inc. (NASDAQ:AVGO) has taken part in PIKAS, a public-private partnership vaccination program focusing on the workforce in critical manufacturing sectors. By the summer of 2021 Broadcom Inc. (NASDAQ:AVGO) was able to get over 90% of workers in its Penang factory at least one dose of vaccine, and roughly 73% fully vaccinated. Companies in the program also pay the administration cost for vaccinations including cases where the employee is no longer employed by the company before full immunization of the employee.”