Massachusetts Wealth Management Makes New $253,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Massachusetts Wealth Management acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,090 shares of the semiconductor manufacturer’s stock, valued at approximately $253,000.

Other institutional investors also recently made changes to their positions in the company. KFA Private Wealth Group LLC increased its position in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA increased its position in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after buying an additional 45 shares during the period. Bryant Woods Investment Advisors LLC raised its stake in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC lifted its holdings in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC boosted its position in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 2.8 %

Broadcom stock opened at $224.87 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a fifty day moving average of $218.50 and a 200 day moving average of $183.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $1.05 trillion, a PE ratio of 183.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research analyst reports. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Company 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.