McGlone Suttner Wealth Management Inc. Has $696,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

McGlone Suttner Wealth Management Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 623 shares of the semiconductor manufacturer’s stock after purchasing an additional 47 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Broadcom were worth $696,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC raised its stake in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the period. CX Institutional raised its stake in Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after acquiring an additional 10 shares during the period. Cascade Investment Group Inc. raised its stake in Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares during the period. Greenwood Gearhart Inc. raised its stake in Broadcom by 2.0% during the 3rd quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock worth $456,000 after acquiring an additional 11 shares during the period. Finally, WBH Advisory Inc. raised its stake in Broadcom by 3.0% during the 3rd quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock worth $342,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Barclays began coverage on shares of Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 target price on the stock. Truist Financial boosted their target price on shares of Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Susquehanna boosted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated 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 owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock worth $26,107,692 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.5 %

AVGO stock traded up $6.68 during mid-day trading on Thursday, reaching $1,325.41. 1,984,981 shares of the stock traded hands, compared to its average volume of 3,096,293. The business has a 50-day moving average price of $1,271.85 and a two-hundred day moving average price of $1,063.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market capitalization of $614.22 billion, a PE ratio of 49.04, a PEG ratio of 2.81 and a beta of 1.26. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for 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 in the prior year, the business posted $9.83 earnings per share. Equities research analysts expect that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

Broadcom Company 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.