Vertex Planning Partners LLC Has $386,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Vertex Planning Partners LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 40.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,663 shares of the semiconductor manufacturer’s stock after buying an additional 475 shares during the period. Vertex Planning Partners LLC’s holdings in Broadcom were worth $386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $32,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

AVGO opened at $171.99 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $210.84 and its 200 day simple moving average is $195.72. The firm has a market cap of $808.69 billion, a price-to-earnings ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock valued at $27,334,060 in the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVGO shares. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating 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 report on Friday, March 7th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Barclays lifted their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.