Wiser Wealth Management Inc Purchases 121 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wiser Wealth Management Inc lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,719 shares of the semiconductor manufacturer’s stock after buying an additional 121 shares during the period. Wiser Wealth Management Inc’s holdings in Broadcom were worth $288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom during the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom during the fourth quarter valued at approximately $32,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 5.0%

Shares of AVGO opened at $246.95 on Monday. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The company has a 50-day moving average of $203.73 and a 200 day moving average of $206.81. The firm has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11. 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 (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the business posted $10.96 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday. Oppenheimer upped their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Rosenblatt Securities upped their target price on shares of Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a report on Friday. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.25.

Broadcom 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.