Capstone Wealth Management LLC Invests $261,000 in Broadcom Inc. (NASDAQ:AVGO)

Capstone Wealth Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,126 shares of the semiconductor manufacturer’s stock, valued at approximately $261,000.

A number of other institutional investors have also recently modified their holdings of the stock. Aspire Private Capital LLC grew its stake in shares of Broadcom by 25.0% in the fourth quarter. Aspire Private Capital LLC now owns 12,362 shares of the semiconductor manufacturer’s stock worth $2,866,000 after acquiring an additional 2,474 shares during the last quarter. Verum Partners LLC grew its stake in shares of Broadcom by 2.1% in the fourth quarter. Verum Partners LLC now owns 7,677 shares of the semiconductor manufacturer’s stock worth $1,780,000 after acquiring an additional 157 shares during the last quarter. Octavia Wealth Advisors LLC boosted its position in shares of Broadcom by 0.8% during the fourth quarter. Octavia Wealth Advisors LLC now owns 9,588 shares of the semiconductor manufacturer’s stock valued at $2,223,000 after buying an additional 78 shares during the last quarter. Commons Capital LLC boosted its position in shares of Broadcom by 1.2% during the fourth quarter. Commons Capital LLC now owns 20,526 shares of the semiconductor manufacturer’s stock valued at $4,759,000 after buying an additional 237 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its position in shares of Broadcom by 71.4% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 24,000 shares of the semiconductor manufacturer’s stock valued at $5,564,000 after buying an additional 10,000 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Broadcom Stock Down 0.3 %

Shares of AVGO opened at $240.28 on Friday. The business’s 50 day moving average is $205.81 and its 200 day moving average is $179.64. The company has a market capitalization of $1.13 trillion, a PE ratio of 195.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

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, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced 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 yield of 0.98%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the firm’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 value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company 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.