Darden Wealth Group Inc Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Darden Wealth Group Inc lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,025 shares of the semiconductor manufacturer's stock after buying an additional 3,085 shares during the quarter. Broadcom comprises 3.4% of Darden Wealth Group Inc's portfolio, making the stock its 6th biggest holding. Darden Wealth Group Inc's holdings in Broadcom were worth $5,106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter worth approximately $32,000. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a report on Friday, December 13th. William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.48.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO traded up $3.60 during trading on Wednesday, reaching $159.63. 14,238,760 shares of the company's stock were exchanged, compared to its average volume of 30,925,979. The business has a 50 day moving average price of $198.58 and a 200-day moving average price of $195.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $750.56 billion, a P/E ratio of 129.68, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom announced that its board has initiated a stock buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.