Maxwell Wealth Strategies Inc. Sells 190 Shares of Broadcom Inc. (NASDAQ:AVGO)

Maxwell Wealth Strategies Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,037 shares of the semiconductor manufacturer’s stock after selling 190 shares during the period. Broadcom makes up about 3.1% of Maxwell Wealth Strategies Inc.’s portfolio, making the stock its 6th biggest position. Maxwell Wealth Strategies Inc.’s holdings in Broadcom were worth $7,659,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Canton Hathaway LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Sellwood Investment Partners LLC purchased a new stake in Broadcom during the fourth quarter worth $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom during the fourth quarter valued at $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Broadcom stock opened at $156.03 on Wednesday. The firm has a 50 day simple moving average of $198.58 and a 200-day simple moving average of $195.95. The stock has a market cap of $733.65 billion, a price-to-earnings ratio of 127.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom announced that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.51%. Broadcom’s payout ratio is 113.46%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.