XY Planning Network Inc. Takes $766,000 Position in Broadcom Inc. (NASDAQ:AVGO)

XY Planning Network Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,305 shares of the semiconductor manufacturer's stock, valued at approximately $766,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. HWG Holdings LP grew its stake in Broadcom by 80.3% during the fourth quarter. HWG Holdings LP now owns 19,325 shares of the semiconductor manufacturer's stock valued at $4,480,000 after acquiring an additional 8,605 shares in the last quarter. LifeWealth Investments LLC bought a new position in Broadcom during the 4th quarter valued at about $781,000. Capital A Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $44,000. LM Advisors LLC bought a new stake in shares of Broadcom during the fourth quarter worth $3,310,000. Finally, Heck Capital Advisors LLC purchased a new stake in Broadcom in the 4th quarter valued at about $1,997,000. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, Director Justine Page sold 800 shares of the business's 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 completion of the transaction, the director now directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 0.7%

Broadcom stock traded up $1.78 during trading on Thursday, reaching $241.21. 12,450,026 shares of the company were exchanged, compared to its average volume of 30,973,277. The stock's 50 day simple moving average is $193.34 and its two-hundred day simple moving average is $202.36. The company has a market capitalization of $1.13 trillion, a P/E ratio of 196.55, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AVGO shares. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, William Blair reissued an "outperform" rating on shares of Broadcom in a report 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $234.15.

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.