Essential Planning LLC. Invests $7.17 Million in Broadcom Inc. (NASDAQ:AVGO)

Essential Planning LLC. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,930 shares of the semiconductor manufacturer’s stock, valued at approximately $7,171,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. grew its stake in shares of Broadcom by 31.0% during the fourth quarter. Jupiter Asset Management Ltd. now owns 268,567 shares of the semiconductor manufacturer’s stock worth $62,265,000 after purchasing an additional 63,507 shares in the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in shares of Broadcom during the fourth quarter worth $21,022,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in shares of Broadcom during the fourth quarter worth $7,219,000. Truvestments Capital LLC grew its stake in shares of Broadcom by 2.8% during the fourth quarter. Truvestments Capital LLC now owns 50,674 shares of the semiconductor manufacturer’s stock worth $11,748,000 after purchasing an additional 1,402 shares in the last quarter. Finally, Austin Wealth Management LLC grew its stake in shares of Broadcom by 32.7% during the fourth quarter. Austin Wealth Management LLC now owns 2,335 shares of the semiconductor manufacturer’s stock worth $554,000 after purchasing an additional 575 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Mizuho decreased their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 3.1 %

Shares of Broadcom stock opened at $190.09 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $220.42 and a two-hundred day moving average of $193.44. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a market cap of $893.79 billion, a PE ratio of 155.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the company posted $0.98 EPS. The company’s revenue was up 51.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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.