8,251 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,251 shares of the semiconductor manufacturer's stock, valued at approximately $1,913,000. Broadcom makes up approximately 1.7% of Total Wealth Planning & Management Inc.'s investment portfolio, making the stock its 8th largest position.

Several other institutional investors have also added to or reduced their stakes in AVGO. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Broadcom during the fourth quarter valued at approximately $873,383,000. Brooklyn FI LLC purchased a new position in Broadcom in the 4th quarter worth about $3,561,000. Employees Retirement System of Texas grew its holdings in Broadcom by 2.1% during the 4th quarter. Employees Retirement System of Texas now owns 945,949 shares of the semiconductor manufacturer's stock worth $219,309,000 after acquiring an additional 19,080 shares in the last quarter. Brucke Financial Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $1,487,000. Finally, Azzad Asset Management Inc. ADV raised its position in shares of Broadcom by 1.7% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 37,400 shares of the semiconductor manufacturer's stock valued at $8,671,000 after purchasing an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Redburn Atlantic assumed coverage on Broadcom in a research report on Wednesday. They set a "buy" rating and a $301.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Morgan Stanley upped their price target on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.15.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the firm's 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 sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, 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. Over the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 1.6%

NASDAQ:AVGO traded up $3.78 during mid-day trading on Wednesday, hitting $239.43. 20,260,131 shares of the company's stock were exchanged, compared to its average volume of 31,045,413. 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 company has a market cap of $1.13 trillion, a PE ratio of 195.30, 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 business has a fifty day moving average price of $192.39 and a 200 day moving average price of $202.10.

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 $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom's payout ratio is currently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.