Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,281 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,970 shares during the period. Broadcom makes up about 3.1% of Jupiter Wealth Management LLC’s holdings, making the stock its 8th biggest position. Jupiter Wealth Management LLC’s holdings in Broadcom were worth $6,093,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. KFA Private Wealth Group LLC grew its holdings in Broadcom by 2.5% during the fourth 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 last quarter. Bryant Woods Investment Advisors LLC lifted its stake in shares of 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 during the last quarter. Marest Capital LLC boosted its holdings in shares of Broadcom by 1.0% during the 4th 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. Register Financial Advisors LLC grew its stake in Broadcom by 1.3% in the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock valued at $856,000 after buying an additional 47 shares during the last quarter. Finally, SlateStone Wealth LLC grew its stake in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after buying an additional 47 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $228.72 on Friday. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 186.56, a P/E/G ratio of 2.29 and a beta of 1.04. The stock has a fifty day moving average price of $190.82 and a two-hundred day moving average price of $201.27. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom announced that its Board of Directors has approved a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AVGO shares. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley increased their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $229.48.

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.