Worth Financial Advisory Group LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Worth Financial Advisory Group LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,445 shares of the semiconductor manufacturer’s stock after purchasing an additional 60 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Broadcom were worth $335,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AVGO. Howard Capital Management Group LLC raised its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares during the period. Principal Financial Group Inc. raised its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Quest Partners LLC lifted its stake in shares of 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 buying an additional 791 shares in the last quarter. Wealth Dimensions Group Ltd. boosted its holdings in Broadcom by 1,001.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 4,043 shares of the semiconductor manufacturer’s stock worth $697,000 after buying an additional 3,676 shares during the period. Finally, Centaurus Financial Inc. grew its stake in Broadcom by 1,073.8% in the 3rd quarter. Centaurus Financial Inc. now owns 83,178 shares of the semiconductor manufacturer’s stock valued at $14,348,000 after buying an additional 76,092 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 4.8 %

Shares of NASDAQ:AVGO opened at $179.27 on Thursday. The stock has a market capitalization of $842.92 billion, a P/E ratio of 146.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock’s 50-day moving average price is $211.99 and its 200-day moving average price is $195.88. 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.

Broadcom Dividend Announcement

The business 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 $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,000 shares of company stock worth $27,334,060. 2.00% of the stock is currently owned by insiders.

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.