Scissortail Wealth Management LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Scissortail Wealth Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,253 shares of the semiconductor manufacturer’s stock after purchasing an additional 810 shares during the period. Broadcom makes up approximately 2.0% of Scissortail Wealth Management LLC’s holdings, making the stock its 15th largest position. Scissortail Wealth Management LLC’s holdings in Broadcom were worth $6,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Macroview Investment Management LLC bought a new stake in Broadcom in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $29,000. CKW Financial Group bought a new stake in shares of Broadcom during the 4th quarter valued at $30,000. Indiana Trust & Investment Management CO bought a new stake in shares of Broadcom during the 3rd quarter valued at $32,000. Finally, VitalStone Financial LLC grew its position in shares of Broadcom by 71.4% during the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after acquiring an additional 25 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVGO. Barclays began coverage on shares of Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Cantor Fitzgerald boosted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,281.09.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by company insiders.

Broadcom Trading Up 1.4 %

Shares of AVGO traded up $18.37 during trading on Tuesday, reaching $1,329.06. 1,890,746 shares of the company traded hands, compared to its average volume of 2,960,501. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a market cap of $615.91 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The stock has a 50-day simple moving average of $1,304.36 and a 200-day simple moving average of $1,110.50. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the business earned $9.83 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.58%. Broadcom’s dividend payout ratio is currently 77.84%.

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.