Defined Financial Planning LLC Has $615,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Defined Financial Planning LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 37.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,651 shares of the semiconductor manufacturer's stock after purchasing an additional 991 shares during the period. Broadcom makes up approximately 0.6% of Defined Financial Planning LLC's holdings, making the stock its 29th biggest position. Defined Financial Planning LLC's holdings in Broadcom were worth $615,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $32,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVGO shares. Citigroup upped their target price on shares of Broadcom from $276.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Morgan Stanley increased their price objective on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $276.09.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the 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 sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the sale, the insider now directly owns 789,784 shares of the company's stock, valued at $199,720,577.92. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 730,576 shares of company stock valued at $133,778,494 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO stock traded down $7.37 on Friday, reaching $248.70. The company had a trading volume of 19,002,301 shares, compared to its average volume of 30,383,406. The stock has a market capitalization of $1.17 trillion, a PE ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The business's 50-day moving average is $213.01 and its 200 day moving average is $209.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.96 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is 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.