Jupiter Wealth Management LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Jupiter Wealth Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 26,281 shares of the semiconductor manufacturer's stock after buying an additional 2,970 shares during the period. Broadcom comprises approximately 3.1% of Jupiter Wealth Management LLC's holdings, 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. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the period. Wolff Financial Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $244,000. Motive Wealth Advisors increased its holdings in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Nebula Research & Development LLC increased its holdings in Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Finally, TTP Investments Inc. lifted its stake in Broadcom by 71.7% in the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock valued at $14,061,000 after buying an additional 25,330 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 0.8%

Shares of AVGO stock traded down $1.81 during trading on Monday, reaching $228.72. The company's stock had a trading volume of 15,375,203 shares, compared to its average volume of 31,107,983. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 186.56, a price-to-earnings-growth 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 business has a fifty day moving average price of $190.82 and a 200-day moving average price of $201.55. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. Broadcom's dividend payout ratio is 113.46%.

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

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Citigroup decreased their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Finally, Benchmark restated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Activity

In other news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 in the last quarter. Corporate insiders own 2.00% of the company's stock.

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.