85 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 85 shares of the semiconductor manufacturer’s stock, valued at approximately $136,000.

Several other large investors also recently modified their holdings of AVGO. Barry Investment Advisors LLC bought a new stake in Broadcom during the 4th quarter worth approximately $228,000. Capital International Ltd. CA boosted its holdings in shares of Broadcom by 1.7% in the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock valued at $87,367,000 after buying an additional 1,310 shares during the period. Focus Financial Network Inc. ADV bought a new stake in shares of Broadcom during the fourth quarter worth $2,238,000. Gryphon Financial Partners LLC raised its holdings in shares of Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after acquiring an additional 801 shares during the period. Finally, Steward Partners Investment Solutions LLC bought a new stake in Broadcom in the 4th quarter valued at $2,205,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.5 %

Shares of Broadcom stock opened at $161.67 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $79.51 and a 12-month high of $185.16. The company has a market capitalization of $752.55 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 2.55 and a beta of 1.16. The firm’s 50-day moving average price is $156.94 and its two-hundred day moving average price is $146.43.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, analysts forecast that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be paid a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.31%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Barclays increased their price objective on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Piper Sandler boosted their target price on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Melius Research started coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

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.