Broadcom Inc. (NASDAQ:AVGO) Position Boosted by Plancorp LLC

Plancorp LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,193 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,430 shares during the quarter. Plancorp LLC’s holdings in Broadcom were worth $1,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. purchased a new stake in shares of Broadcom during the fourth quarter valued at $291,000. Mizuho Securities USA LLC boosted its position in shares of Broadcom by 46.7% in the 4th quarter. Mizuho Securities USA LLC now owns 442,665 shares of the semiconductor manufacturer’s stock valued at $102,627,000 after purchasing an additional 140,821 shares during the period. Fi3 FINANCIAL ADVISORS LLC boosted its position in shares of Broadcom by 1.3% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 8,453 shares of the semiconductor manufacturer’s stock valued at $1,960,000 after purchasing an additional 106 shares during the period. Virtu Financial LLC boosted its position in shares of Broadcom by 81.4% in the 4th quarter. Virtu Financial LLC now owns 67,514 shares of the semiconductor manufacturer’s stock valued at $15,652,000 after purchasing an additional 30,299 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Broadcom in the 4th quarter valued at $5,499,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 0.6 %

Shares of AVGO stock opened at $191.66 on Friday. The stock’s 50 day simple moving average is $214.38 and its 200 day simple moving average is $194.79. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01.

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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVGO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,168 shares of company stock valued at $40,508,877. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.