Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Retirement Planning Group LLC

Retirement Planning Group LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,240 shares of the semiconductor manufacturer’s stock after purchasing an additional 104 shares during the quarter. Retirement Planning Group LLC’s holdings in Broadcom were worth $519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Fin Capital Inc. raised its position in Broadcom by 22.8% during the fourth quarter. Blue Fin Capital Inc. now owns 3,273 shares of the semiconductor manufacturer’s stock valued at $759,000 after acquiring an additional 608 shares in the last quarter. Headinvest LLC raised its position in Broadcom by 7.9% during the fourth quarter. Headinvest LLC now owns 3,422 shares of the semiconductor manufacturer’s stock valued at $793,000 after acquiring an additional 252 shares in the last quarter. City National Bank of Florida MSD purchased a new position in Broadcom during the fourth quarter valued at approximately $292,000. JT Stratford LLC raised its position in Broadcom by 6.6% during the fourth quarter. JT Stratford LLC now owns 7,505 shares of the semiconductor manufacturer’s stock valued at $1,740,000 after acquiring an additional 467 shares in the last quarter. Finally, Cornerstone Advisory LLC raised its position in Broadcom by 17.6% during the fourth quarter. Cornerstone Advisory LLC now owns 5,238 shares of the semiconductor manufacturer’s stock valued at $1,221,000 after acquiring an additional 785 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $228.72 on Friday. The stock’s fifty day moving average is $190.82 and its two-hundred day moving average is $201.27. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 186.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 fifty-two week low of $128.50 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its board has initiated a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays cut their price objective on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Citigroup cut their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.48.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock valued at $131,249,694 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Company 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.