McNaughton Wealth Management LLC Purchases 215 Shares of Broadcom Inc. (NASDAQ:AVGO)

McNaughton Wealth Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,195 shares of the semiconductor manufacturer’s stock after acquiring an additional 215 shares during the period. McNaughton Wealth Management LLC’s holdings in Broadcom were worth $973,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. NCP Inc. grew its holdings in shares of Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Broadcom by 9.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,947 shares of the semiconductor manufacturer’s stock valued at $7,943,000 after purchasing an additional 416 shares during the last quarter. One Capital Management LLC grew its stake in Broadcom by 331.2% in the second quarter. One Capital Management LLC now owns 2,850 shares of the semiconductor manufacturer’s stock valued at $4,576,000 after purchasing an additional 2,189 shares in the last quarter. WealthPLAN Partners LLC increased its position in shares of Broadcom by 12.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 1,351 shares of the semiconductor manufacturer’s stock worth $2,169,000 after purchasing an additional 149 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $426,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.3 %

Shares of NASDAQ:AVGO opened at $224.70 on Wednesday. The business’s 50 day simple moving average is $199.05 and its 200 day simple moving average is $176.63. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $1.05 trillion, a P/E ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Piper Sandler raised their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Morgan Stanley upped their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.54.

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.