Broadcom Inc. (NASDAQ:AVGO) is Retirement Planning Co of New England Inc.’s 9th Largest Position

Retirement Planning Co of New England Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,939 shares of the semiconductor manufacturer’s stock after selling 443 shares during the period. Broadcom accounts for approximately 1.8% of Retirement Planning Co of New England Inc.’s investment portfolio, making the stock its 9th largest holding. Retirement Planning Co of New England Inc.’s holdings in Broadcom were worth $3,695,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVGO. Pin Oak Investment Advisors Inc. grew its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter worth $26,000. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,738 shares of company stock worth $43,395,200 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Mizuho cut their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $194.50 on Tuesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company’s fifty day moving average price is $217.28 and its 200 day moving average price is $194.43. The company has a market capitalization of $914.53 billion, a PE ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.