Core Wealth Partners LLC Has $2.03 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Core Wealth Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,743 shares of the semiconductor manufacturer’s stock after purchasing an additional 573 shares during the quarter. Broadcom makes up approximately 1.2% of Core Wealth Partners LLC’s investment portfolio, making the stock its 19th biggest position. Core Wealth Partners LLC’s holdings in Broadcom were worth $2,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. Finally, Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Piper Sandler boosted their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Down 1.6 %

Broadcom stock opened at $188.26 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. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a fifty day simple moving average of $212.97 and a 200 day simple moving average of $196.00. The company has a market cap of $885.19 billion, a P/E ratio of 153.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.