Juncture Wealth Strategies LLC Has $679,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Juncture Wealth Strategies LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,058 shares of the semiconductor manufacturer’s stock after buying an additional 283 shares during the period. Juncture Wealth Strategies LLC’s holdings in Broadcom were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in Broadcom during the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter worth about $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $248.71 on Tuesday. The business has a 50 day moving average price of $196.77 and a 200 day moving average price of $204.25. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a market cap of $1.17 trillion, a price-to-earnings ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom announced that its Board of Directors has approved a share buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 0.95%. Broadcom’s payout ratio is 113.46%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company’s stock, valued at $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 in the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. Redburn Atlantic began coverage on Broadcom in a research report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Barclays dropped their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Morgan Stanley upped their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $238.77.

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.