WealthPLAN Partners LLC Acquires 649 Shares of Broadcom Inc. (NASDAQ:AVGO)

WealthPLAN Partners LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,671 shares of the semiconductor manufacturer’s stock after buying an additional 649 shares during the period. WealthPLAN Partners LLC’s holdings in Broadcom were worth $1,315,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Center for Financial Planning Inc. boosted its stake in shares of Broadcom by 1.0% during the 4th quarter. Center for Financial Planning Inc. now owns 8,583 shares of the semiconductor manufacturer’s stock worth $1,990,000 after purchasing an additional 84 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of Broadcom by 3.9% during the 4th quarter. New Mexico Educational Retirement Board now owns 221,160 shares of the semiconductor manufacturer’s stock worth $51,274,000 after purchasing an additional 8,200 shares during the period. Quadrant Private Wealth Management LLC boosted its stake in shares of Broadcom by 19.4% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 31,121 shares of the semiconductor manufacturer’s stock worth $7,215,000 after purchasing an additional 5,048 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Broadcom by 16.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer’s stock worth $51,283,000 after purchasing an additional 31,225 shares during the period. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Broadcom by 4.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 59,218 shares of the semiconductor manufacturer’s stock worth $13,729,000 after purchasing an additional 2,392 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial boosted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Trading Down 1.2 %

NASDAQ AVGO opened at $233.04 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market capitalization of $1.09 trillion, a PE ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The firm has a 50 day moving average of $226.16 and a two-hundred day moving average of $187.51.

Broadcom (NASDAQ:AVGO) last issued its earnings results 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Corporate 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.