Wealth Dimensions Group Ltd. Has $1.36 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Wealth Dimensions Group Ltd. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 13.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,146 shares of the semiconductor manufacturer’s stock after buying an additional 951 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Broadcom were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. True Wealth Design LLC raised its position in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. Samalin Investment Counsel LLC lifted its holdings in shares of Broadcom by 1.0% during the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer’s stock worth $1,155,000 after purchasing an additional 50 shares during the period. Mizuho Bank Ltd. grew its stake in shares of Broadcom by 7.1% in the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer’s stock worth $174,000 after purchasing an additional 50 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer’s stock valued at $357,000 after purchasing an additional 50 shares during the period. Finally, American Financial Advisors LLC grew its position in shares of Broadcom by 3.8% in the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $240,000 after buying an additional 52 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group raised their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Evercore ISI reiterated an “outperform” rating and set a $304.00 price target (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. HSBC upgraded Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus price target of $292.08.

Broadcom Stock Down 1.1%

Broadcom stock opened at $283.34 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a one year low of $128.50 and a one year high of $288.28. The stock has a market cap of $1.33 trillion, a PE ratio of 106.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The stock has a fifty day moving average of $254.41 and a 200 day moving average of $220.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter last year, the business posted $10.96 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

Broadcom declared that its board has authorized a share buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $274.30, for a total value of $219,440.00. Following the completion of the sale, the director owned 24,582 shares in the company, valued at approximately $6,742,842.60. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares of the company’s stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

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.