Jupiter Wealth Management LLC Purchases 2,970 Shares of Broadcom Inc. (NASDAQ:AVGO)

Jupiter Wealth Management LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 12.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,281 shares of the semiconductor manufacturer’s stock after buying an additional 2,970 shares during the period. Broadcom accounts for approximately 3.1% of Jupiter Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. Jupiter Wealth Management LLC’s holdings in Broadcom were worth $6,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in Broadcom during the 4th quarter worth $357,000. Capital & Planning LLC boosted its position in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 554 shares during the last quarter. LaFleur & Godfrey LLC grew its stake in shares of Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock worth $18,145,000 after purchasing an additional 12,345 shares during the period. Alpha Cubed Investments LLC grew its stake in shares of Broadcom by 0.4% during the fourth quarter. Alpha Cubed Investments LLC now owns 16,767 shares of the semiconductor manufacturer’s stock worth $3,887,000 after purchasing an additional 73 shares during the period. Finally, Transform Wealth LLC increased its holdings in Broadcom by 5.5% in the fourth quarter. Transform Wealth LLC now owns 181,972 shares of the semiconductor manufacturer’s stock valued at $42,188,000 after purchasing an additional 9,505 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO opened at $228.72 on Friday. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 186.56, a P/E/G ratio of 2.29 and a beta of 1.04. The business’s 50-day moving average price is $190.82 and its two-hundred day moving average price is $201.27. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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 given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AVGO shares. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.48.

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.