Advance Capital Management Inc. Invests $245,000 in Broadcom Inc. (NASDAQ:AVGO)

Advance Capital Management Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,057 shares of the semiconductor manufacturer’s stock, valued at approximately $245,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Broadcom in the second quarter worth about $136,000. WPWealth LLP purchased a new position in shares of Broadcom in the second quarter worth approximately $204,000. Harrington Investments INC acquired a new stake in shares of Broadcom during the second quarter valued at approximately $207,000. Finally, AIMZ Investment Advisors LLC acquired a new position in Broadcom in the 2nd quarter worth approximately $207,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their target price on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Activity

In related news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,128 shares of company stock worth $29,820,640. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded up $3.86 on Monday, reaching $236.41. 32,068,926 shares of the company were exchanged, compared to its average volume of 26,885,877. The firm has a market capitalization of $1.11 trillion, a PE ratio of 205.40, a PEG ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 12 month low of $105.20 and a 12 month high of $251.88. The stock’s fifty day moving average price is $191.27 and its 200 day moving average price is $173.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.