Spartan Planning & Wealth Management Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Spartan Planning & Wealth Management lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,922 shares of the semiconductor manufacturer's stock after selling 1,532 shares during the period. Broadcom comprises 1.0% of Spartan Planning & Wealth Management's portfolio, making the stock its 26th largest position. Spartan Planning & Wealth Management's holdings in Broadcom were worth $992,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. KFA Private Wealth Group LLC lifted its holdings in shares of Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock worth $407,000 after purchasing an additional 42 shares during the last quarter. Marest Capital LLC increased its position in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after acquiring an additional 46 shares during the period. SlateStone Wealth LLC increased its position in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC increased its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares during the period. Finally, DT Investment Partners LLC increased its position in Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after acquiring an additional 50 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 2.3%

Shares of AVGO traded up $5.61 during trading hours on Tuesday, reaching $254.32. 14,438,940 shares of the company traded hands, compared to its average volume of 30,764,235. The company's fifty day moving average price is $196.77 and its two-hundred day moving average price is $204.25. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 207.44, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 12 month low of $128.50 and a 12 month high of $257.81.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

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

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Benchmark restated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $241.31.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last quarter. Corporate insiders own 2.00% of the company's stock.

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.