Plancorp LLC Purchases 1,430 Shares of Broadcom Inc. (NASDAQ:AVGO)

Plancorp LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,193 shares of the semiconductor manufacturer’s stock after buying an additional 1,430 shares during the period. Plancorp LLC’s holdings in Broadcom were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Truist Financial boosted their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 0.6 %

AVGO stock opened at $191.66 on Friday. The company has a market cap of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. 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 business has a fifty day moving average of $214.38 and a 200-day moving average of $194.79.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s dividend payout ratio is presently 113.46%.

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.