Avantax Planning Partners Inc. Expands Holdings in Broadcom Inc.

Avantax Planning Partners Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the fourth quarter, as revealed in their latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 1,387 shares, the firm now holds a total of 55,352 shares of the semiconductor company. As of the most recent filing, Avantax Planning Partners Inc. values its holdings in Broadcom at approximately $12,833,000.

Recent Activity from Other Investors

Other institutional investors have also adjusted their positions in Broadcom. For example, Pin Oak Investment Advisors Inc. enhanced its stake by 900% in the third quarter, amassing 150 shares valued at $25,000 after purchasing an extra 135 shares. Canton Hathaway LLC and Rialto Wealth Management LLC both entered new positions in the fourth quarter, each worth $26,000. Additionally, JDM Financial Group LLC raised its holdings by 1,323.1% in the third quarter, bringing their total to 185 shares valued at $32,000 following an increase of 172 shares. Bellevue Asset Management LLC also acquired a new position valued at $33,000. Currently, 76.43% of Broadcom's stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, Broadcom Director Harry L. You sold 6,540 shares of the company's stock on December 17, at an average price of $240.00, totaling $1,569,600. This sale represents a 17.68% decrease in the director's holdings, leaving them with 30,450 shares valued at roughly $7,308,000. Furthermore, CFO Kirsten M. Spears sold 12,570 shares on December 20 for an average price of $229.62, amounting to a total of $2,886,323.40. Following this transaction, the CFO directly owns 325,443 shares worth approximately $74,728,222. Insiders have sold a total of 191,278 shares valued at around $44,964,800 in the last quarter, with insiders owning about 2% of the company’s stock.

A Growing Interest from Analysts

Several analysts have recently issued new ratings for Broadcom. Benchmark has reiterated a “buy” rating and set a target price of $255.00 on the shares. Meanwhile, Jefferies Financial Group raised its target price from $205.00 to $225.00, maintaining a “buy” rating. Similarly, Rosenblatt Securities has reiterated a “buy” rating with a $250.00 price target. Citigroup has also increased its price target from $175.00 to $205.00. However, Mizuho has reduced its target from $260.00 to $250.00 while maintaining an “outperform” rating. Currently, three analysts label the stock as a hold while twenty-five recommend it as a buy. Based on the average rating from MarketBeat, Broadcom holds a “Moderate Buy” recommendation with an average target price of $231.48.

Performance and Dividends

Broadcom’s shares opened at $184.45 recently, with the company holding a market capitalization of $867.27 billion. It has a PE ratio of 150.45 and a beta of 1.01. Throughout the past year, the stock has fluctuated between a low of $119.76 and a high of $251.88. Broadcom reported its quarterly earnings on December 12, where it achieved earnings per share (EPS) of $1.42, exceeding the consensus estimate of $1.39. The company's revenue for the quarter reached $14.05 billion, slightly under the expected $14.07 billion. Year-over-year, their revenue increased by 51.2%. Looking ahead, analysts predict that Broadcom will record an EPS of 5.38 for the current year.

Recently, Broadcom also announced a quarterly dividend, set to be paid on March 31. Shareholders on record by March 20 will receive a dividend of $0.59 per share, leading to an annualized dividend yield of 1.28%. The company’s current dividend payout ratio stands at 113.46%.

About Broadcom

Broadcom Inc. designs, develops, and supplies various semiconductor devices, focusing on sophisticated digital and mixed-signal devices, including analog III-V based products. The company operates in two primary segments: Semiconductor Solutions and Infrastructure Software.

investing, technology, semiconductors