WealthPlan Investment Management LLC Acquires Shares of 523 Broadcom Inc. (NASDAQ:AVGO)

WealthPlan Investment Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGOFree Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 523 shares of the semiconductor manufacturer’s stock, valued at approximately $435,000.

A number of other large investors have also recently modified their holdings of the business. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Broadcom during the 3rd quarter valued at $2,355,000. Synergy Financial Group LTD raised its position in Broadcom by 13.7% during the 3rd quarter. Synergy Financial Group LTD now owns 837 shares of the semiconductor manufacturer’s stock worth $695,000 after purchasing an additional 101 shares during the last quarter. Albion Financial Group UT raised its position in Broadcom by 1.2% during the 3rd quarter. Albion Financial Group UT now owns 10,515 shares of the semiconductor manufacturer’s stock worth $8,734,000 after purchasing an additional 124 shares during the last quarter. Nilsine Partners LLC raised its position in Broadcom by 0.4% during the 3rd quarter. Nilsine Partners LLC now owns 12,144 shares of the semiconductor manufacturer’s stock worth $10,087,000 after purchasing an additional 51 shares during the last quarter. Finally, Emfo LLC raised its position in shares of Broadcom by 169.4% in the 3rd quarter. Emfo LLC now owns 835 shares of the semiconductor manufacturer’s stock worth $694,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

Broadcom Trading Up 0.7 %

NASDAQ:AVGO opened at $1,283.44 on Monday. The company has a current ratio of 2.82, a quick ratio of 2.56 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $600.83 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.25. The firm’s 50 day moving average is $1,124.64 and its 200 day moving average is $965.40. Broadcom Inc. has a 12 month low of $572.10 and a 12 month high of $1,295.97.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, December 7th. The semiconductor manufacturer reported $11.06 EPS for the quarter, topping analysts’ consensus estimates of $10.96 by $0.10. The company had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Broadcom had a net margin of 39.31% and a return on equity of 73.43%. Broadcom’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.75 EPS. Sell-side analysts expect that Broadcom Inc. will post 42.71 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, December 20th were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, December 19th. This is a boost from Broadcom’s previous quarterly dividend of $4.60. Broadcom’s payout ratio is 63.75%.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 800 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $1,140.30, for a total transaction of $912,240.00. Following the sale, the director now directly owns 810 shares in the company, valued at approximately $923,643. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,443 shares of company stock valued at $50,151,532. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,000.00 target price on shares of Broadcom in a research report on Monday, December 4th. KeyCorp boosted their target price on Broadcom from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Friday, November 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Finally, Citigroup reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a research report on Monday, December 11th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $981.45.

View Our Latest Stock Analysis on AVGO

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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