Bernard Wealth Management Corp. Makes New $320,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Bernard Wealth Management Corp. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,380 shares of the semiconductor manufacturer's stock, valued at approximately $320,000.

Several other large investors have also made changes to their positions in AVGO. Tallon Kerry Patrick bought a new stake in shares of Broadcom during the fourth quarter worth approximately $357,000. Capital & Planning LLC grew its holdings in Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after acquiring an additional 554 shares during the period. LaFleur & Godfrey LLC grew its holdings in Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after acquiring an additional 12,345 shares during the period. First PREMIER Bank lifted its stake in shares of Broadcom by 117.9% in the 4th quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer's stock valued at $197,000 after purchasing an additional 460 shares during the period. Finally, D.B. Root & Company LLC lifted its stake in shares of Broadcom by 3.6% in the 4th quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer's stock valued at $1,281,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 3.0%

Shares of NASDAQ:AVGO traded up $6.93 during mid-day trading on Tuesday, reaching $235.65. 17,906,364 shares of the stock were exchanged, compared to its average volume of 31,055,312. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.11 trillion, a P/E ratio of 192.21, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The stock's 50 day simple moving average is $191.49 and its 200-day simple moving average is $201.86.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Broadcom Company 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.