Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Plan Group Financial LLC

Plan Group Financial LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,141 shares of the semiconductor manufacturer’s stock after purchasing an additional 542 shares during the period. Broadcom makes up approximately 0.9% of Plan Group Financial LLC’s portfolio, making the stock its 22nd biggest holding. Plan Group Financial LLC’s holdings in Broadcom were worth $1,655,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division lifted its holdings in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $244,000. Strait & Sound Wealth Management LLC grew its stake in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Motive Wealth Advisors boosted its holdings in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $218.61 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a 50 day moving average price of $230.09 and a 200 day moving average price of $189.79. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.