1,057 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Advance Capital Management Inc.

Advance Capital Management Inc. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,057 shares of the semiconductor manufacturer’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC lifted its position in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Tsfg LLC increased its position in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its stake in Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on AVGO shares. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Truist Financial raised their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Broadcom Stock Up 1.7 %

Shares of Broadcom stock traded up $3.86 during trading on Monday, reaching $236.41. The company had a trading volume of 32,068,926 shares, compared to its average volume of 26,885,877. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $105.20 and a fifty-two week high of $251.88. The firm’s fifty day moving average is $191.27 and its 200-day moving average is $173.87. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 205.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,128 shares of company stock valued at $29,820,640. 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.