Mark Sheptoff Financial Planning LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mark Sheptoff Financial Planning LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 70.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170 shares of the semiconductor manufacturer’s stock after acquiring an additional 70 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Broadcom were worth $39,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AVGO. Vanguard Group Inc. grew its holdings in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. State Street Corp lifted its position in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC grew its stake in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC increased its holdings in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AVGO shares. Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen boosted their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Mizuho dropped their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

Shares of AVGO stock opened at $188.26 on Wednesday. Broadcom Inc. has a one year low of $119.76 and a one 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’s 50 day moving average price is $212.97 and its 200-day moving average price is $196.00. The firm has a market cap of $885.19 billion, a P/E ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’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 completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is currently owned by corporate insiders.

Broadcom 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.