Wise Wealth Partners Invests $614,000 in Broadcom Inc. (NASDAQ:AVGO)

Wise Wealth Partners bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,649 shares of the semiconductor manufacturer’s stock, valued at approximately $614,000. Broadcom accounts for 1.5% of Wise Wealth Partners’ portfolio, making the stock its 11th biggest holding.

A number of other large investors have also bought and sold shares of the stock. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the fourth quarter valued at $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 719,776 shares of company stock valued at $131,065,542. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.7 %

AVGO stock opened at $191.17 on Wednesday. Broadcom Inc. has a twelve month low of $122.33 and a twelve month high of $251.88. The stock has a market cap of $898.87 billion, a P/E ratio of 155.93, a PEG ratio of 2.29 and a beta of 1.05. The business’s 50-day moving average price is $182.92 and its 200-day moving average price is $196.21. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom declared that its board has approved a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Bank of America dropped their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

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.