Consolidated Planning Corp increased its position in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,240 shares of the semiconductor manufacturer’s stock after buying an additional 236 shares during the period. Broadcom accounts for approximately 1.4% of Consolidated Planning Corp’s investment portfolio, making the stock its 19th biggest holding. Consolidated Planning Corp’s holdings in Broadcom were worth $4,547,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Schubert & Co boosted its stake in Broadcom by 77.4% during the 2nd quarter. Schubert & Co now owns 55 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. First Personal Financial Services lifted its position in shares of Broadcom by 126.7% during the 3rd quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 38 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Broadcom during the 2nd quarter worth approximately $32,000. Coston McIsaac & Partners bought a new position in shares of Broadcom during the 2nd quarter worth approximately $32,000. Finally, Knott David M Jr bought a new position in shares of Broadcom during the 2nd quarter worth approximately $34,000. 81.28% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Justine Page sold 170 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total transaction of $97,726.20. Following the completion of the transaction, the director now directly owns 2,981 shares in the company, valued at approximately $1,713,657.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Broadcom Stock Down 1.4 %
AVGO opened at $577.00 on Wednesday. The company has a fifty day moving average price of $552.10 and a 200-day moving average price of $515.33. The firm has a market capitalization of $241.12 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 1.22 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.62 and a quick ratio of 2.35. Broadcom Inc. has a one year low of $415.07 and a one year high of $645.31.
Broadcom (NASDAQ:AVGO – Get Rating) last released its quarterly earnings results on Thursday, December 8th. The semiconductor manufacturer reported $9.75 EPS for the quarter, beating analysts’ consensus estimates of $9.50 by $0.25. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.90 billion. Broadcom had a net margin of 34.62% and a return on equity of 70.00%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the business earned $7.01 EPS. Equities research analysts expect that Broadcom Inc. will post 37.41 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Tuesday, December 20th were given a dividend of $4.60 per share. This is a positive change from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, December 19th. Broadcom’s payout ratio is 69.43%.
Broadcom Company Profile
Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
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