GPS Wealth Strategies Group LLC Purchases 2,370 Shares of Broadcom Inc. (NASDAQ:AVGO)

GPS Wealth Strategies Group LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,472 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,370 shares during the period. Broadcom accounts for 1.2% of GPS Wealth Strategies Group LLC’s portfolio, making the stock its 13th largest holding. GPS Wealth Strategies Group LLC’s holdings in Broadcom were worth $9,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Broadcom in the 4th quarter valued at $37,000. Finally, Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Morgan Stanley dropped their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 2.2 %

NASDAQ:AVGO opened at $222.43 on Wednesday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $1.04 trillion, a P/E ratio of 181.43, a P/E/G ratio of 2.31 and a beta of 1.02. The firm has a 50-day simple moving average of $214.47 and a 200-day simple moving average of $182.60.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

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.