Wealth Management Partners LLC Purchases 244 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealth Management Partners LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,747 shares of the semiconductor manufacturer’s stock after acquiring an additional 244 shares during the period. Broadcom accounts for 1.0% of Wealth Management Partners LLC’s portfolio, making the stock its 26th largest holding. Wealth Management Partners LLC’s holdings in Broadcom were worth $2,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NCP Inc. raised its holdings in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares during the last quarter. Interval Partners LP acquired a new stake in Broadcom in the 2nd quarter valued at about $5,820,000. Mill Creek Capital Advisors LLC raised its stake in shares of Broadcom by 17.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 796 shares of the semiconductor manufacturer’s stock worth $1,278,000 after acquiring an additional 116 shares during the last quarter. CreativeOne Wealth LLC lifted its position in shares of Broadcom by 91.6% during the second quarter. CreativeOne Wealth LLC now owns 12,449 shares of the semiconductor manufacturer’s stock worth $19,988,000 after purchasing an additional 5,952 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Broadcom by 411.4% during the second quarter. Semmax Financial Advisors Inc. now owns 946 shares of the semiconductor manufacturer’s stock valued at $1,519,000 after purchasing an additional 761 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Diane M. Bryant sold 15,000 shares of the business’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 transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley increased their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Stock Up 1.2 %

AVGO stock opened at $240.31 on Wednesday. The business has a 50-day moving average of $203.18 and a 200-day moving average of $178.65. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

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.