Pines Wealth Management LLC Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Pines Wealth Management LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 21,640 shares of the semiconductor manufacturer’s stock, valued at approximately $4,854,000. Broadcom comprises 2.1% of Pines Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC raised its position in Broadcom by 6.8% during the fourth quarter. Accurate Wealth Management LLC now owns 18,743 shares of the semiconductor manufacturer’s stock valued at $4,206,000 after purchasing an additional 1,194 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in shares of Broadcom by 15.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 5,924 shares of the semiconductor manufacturer’s stock worth $1,373,000 after buying an additional 778 shares during the period. Capstone Wealth Management Group LLC raised its stake in shares of Broadcom by 5.6% during the fourth quarter. Capstone Wealth Management Group LLC now owns 38,422 shares of the semiconductor manufacturer’s stock valued at $8,908,000 after acquiring an additional 2,030 shares during the last quarter. Fiduciary Financial Group LLC raised its position in Broadcom by 83.3% during the 4th quarter. Fiduciary Financial Group LLC now owns 3,300 shares of the semiconductor manufacturer’s stock valued at $740,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its holdings in shares of Broadcom by 4.0% during the fourth quarter. Mayfair Advisory Group LLC now owns 2,401 shares of the semiconductor manufacturer’s stock valued at $557,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.5 %

Shares of Broadcom stock opened at $228.00 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88. The business’s fifty day moving average price is $199.05 and its two-hundred day moving average price is $176.63. The company has a market capitalization of $1.07 trillion, a P/E ratio of 198.09, a PEG ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.04%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays raised their price target on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Susquehanna boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Mizuho raised their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the company’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 completion of the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.