Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,958 shares of the semiconductor manufacturer’s stock after buying an additional 1,466 shares during the quarter. Broadcom makes up approximately 3.4% of Midwest Professional Planners LTD.’s investment portfolio, making the stock its 3rd biggest holding. Midwest Professional Planners LTD.’s holdings in Broadcom were worth $11,350,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AVGO. Central Pacific Bank Trust Division grew its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new position in Broadcom in the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC grew its holdings in shares of Broadcom by 829.8% during the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after buying an additional 7,095 shares during the last quarter. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after buying an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after buying an additional 350,485 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 1.5 %

AVGO stock opened at $191.36 on Friday. The company has a market cap of $899.76 billion, a price-to-earnings ratio of 156.09, a PEG ratio of 2.29 and a beta of 1.01. 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. The firm has a 50-day moving average of $218.86 and a two-hundred day moving average of $193.43.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is currently 113.46%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVGO. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were 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 owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. 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.