Consolidated Planning Corp Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Consolidated Planning Corp lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 7,445 shares of the semiconductor manufacturer’s stock after buying an additional 54 shares during the period. Broadcom accounts for about 1.5% of Consolidated Planning Corp’s investment portfolio, making the stock its 15th largest position. Consolidated Planning Corp’s holdings in Broadcom were worth $8,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BetterWealth LLC increased its holdings in shares of Broadcom by 1.5% in the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 9 shares in the last quarter. Rise Advisors LLC increased its holdings in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares in the last quarter. CX Institutional increased its holdings in Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares in the last quarter. Cascade Investment Group Inc. increased its holdings in Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after acquiring an additional 10 shares in the last quarter. Finally, Sabal Trust CO increased its holdings in Broadcom by 1.6% during the 4th quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.8 %

AVGO stock traded up $49.65 during midday trading on Friday, reaching $1,344.07. 2,409,983 shares of the company’s stock traded hands, compared to its average volume of 2,322,994. The company has a market capitalization of $622.87 billion, a P/E ratio of 49.82, a PEG ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The business has a 50-day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company posted $9.83 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Benchmark restated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Finally, Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.