Capstone Wealth Management Group LLC Has $8.91 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Capstone Wealth Management Group LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 38,422 shares of the semiconductor manufacturer’s stock after buying an additional 2,030 shares during the period. Broadcom comprises 4.8% of Capstone Wealth Management Group LLC’s holdings, making the stock its 6th largest position. Capstone Wealth Management Group LLC’s holdings in Broadcom were worth $8,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NCP Inc. boosted its holdings in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Broadcom by 9.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,947 shares of the semiconductor manufacturer’s stock worth $7,943,000 after acquiring an additional 416 shares during the last quarter. One Capital Management LLC boosted its holdings in shares of Broadcom by 331.2% in the 2nd quarter. One Capital Management LLC now owns 2,850 shares of the semiconductor manufacturer’s stock worth $4,576,000 after buying an additional 2,189 shares during the last quarter. WealthPLAN Partners LLC boosted its holdings in shares of Broadcom by 12.4% in the 2nd quarter. WealthPLAN Partners LLC now owns 1,351 shares of the semiconductor manufacturer’s stock worth $2,169,000 after buying an additional 149 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. purchased a new position in shares of Broadcom in the 2nd quarter worth about $426,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVGO. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Trading Down 0.3 %

Shares of AVGO opened at $224.70 on Wednesday. The business’s 50-day moving average price is $199.05 and its 200-day moving average price is $176.63. Broadcom Inc. has a twelve month low of $109.02 and a twelve month high of $251.88. The stock has a market cap of $1.05 trillion, a PE ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. On average, equities analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’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 owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 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.