Partners in Financial Planning Invests $338,000 in Broadcom Inc. (NASDAQ:AVGO)

Partners in Financial Planning purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,457 shares of the semiconductor manufacturer’s stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Howard Capital Management Group LLC lifted its position in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares during the period. Edgestream Partners L.P. boosted its position in shares of Broadcom by 2,491.7% during the 3rd quarter. Edgestream Partners L.P. now owns 14,047 shares of the semiconductor manufacturer’s stock valued at $2,423,000 after acquiring an additional 13,505 shares during the last quarter. Tradition Wealth Management LLC grew its holdings in shares of Broadcom by 863.8% in the third quarter. Tradition Wealth Management LLC now owns 21,715 shares of the semiconductor manufacturer’s stock valued at $3,746,000 after purchasing an additional 19,462 shares during the period. Finally, Cobblestone Capital Advisors LLC NY increased its position in Broadcom by 993.1% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,225 shares of the semiconductor manufacturer’s stock worth $901,000 after purchasing an additional 4,747 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO stock opened at $169.12 on Monday. The business’s 50-day moving average is $209.48 and its two-hundred day moving average is $196.51. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $795.19 billion, a P/E ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVGO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Benchmark reissued a “buy” rating and set a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. TD Cowen raised 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 785,976 shares of company stock worth $147,912,102 over the last 90 days. 2.00% of the stock is owned by insiders.

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.