Mark Sheptoff Financial Planning LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Mark Sheptoff Financial Planning LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 70.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170 shares of the semiconductor manufacturer’s stock after purchasing 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 reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Swedbank AB grew its holdings in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC raised its holdings in shares of Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Quest Partners LLC boosted its holdings in Broadcom by 3,295.8% during the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after acquiring an additional 791 shares during the period. Finally, Leelyn Smith LLC grew its position in Broadcom by 875.6% in the 3rd quarter. Leelyn Smith LLC now owns 13,151 shares of the semiconductor manufacturer’s stock valued at $2,269,000 after acquiring an additional 11,803 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AVGO. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Down 1.6 %

NASDAQ:AVGO opened at $188.26 on Wednesday. The company has a market capitalization of $885.19 billion, a P/E ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The firm has a fifty day simple moving average of $212.97 and a 200-day simple moving average of $196.00.

Broadcom Dividend Announcement

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

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock valued at $21,494,560. Company insiders own 2.00% of the company’s stock.

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.