McNaughton Wealth Management LLC Has $973,000 Position in Broadcom Inc. (NASDAQ:AVGO)

McNaughton Wealth Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The firm 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.

Several other institutional investors have also made changes to their positions in AVGO. Wallace Advisory Group LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $424,000. GSG Advisors LLC lifted its holdings in shares of Broadcom by 3.0% during the fourth quarter. GSG Advisors LLC now owns 4,053 shares of the semiconductor manufacturer’s stock valued at $940,000 after acquiring an additional 117 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Broadcom by 3.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 5,982 shares of the semiconductor manufacturer’s stock valued at $1,387,000 after acquiring an additional 184 shares during the period. Arbor Wealth Advisors LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $206,000. Finally, Greenfield Savings Bank increased its position in shares of Broadcom by 21.6% during the 4th quarter. Greenfield Savings Bank now owns 3,403 shares of the semiconductor manufacturer’s stock worth $789,000 after purchasing an additional 605 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Stock Down 0.3 %

NASDAQ:AVGO opened at $224.70 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $109.02 and a 12-month high of $251.88. The stock’s fifty day simple moving average is $199.05 and its 200-day simple moving average is $176.63. The firm 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 issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Equities research analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current 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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

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.