Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by RWQ Financial Management Services Inc.

RWQ Financial Management Services Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 675.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 80,688 shares of the semiconductor manufacturer’s stock after purchasing an additional 70,285 shares during the quarter. Broadcom accounts for approximately 7.3% of RWQ Financial Management Services Inc.’s investment portfolio, making the stock its 7th largest position. RWQ Financial Management Services Inc.’s holdings in Broadcom were worth $18,707,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division increased its position in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $244,000. Strait & Sound Wealth Management LLC boosted its stake in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Motive Wealth Advisors boosted its stake in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,168 shares of company stock valued at $40,508,877 over the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVGO shares. Mizuho cut their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Barclays lifted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 2.6 %

Shares of NASDAQ AVGO opened at $190.54 on Friday. The firm’s 50 day moving average price is $215.03 and its 200-day moving average price is $194.59. The company has a market cap of $895.91 billion, a PE ratio of 155.42, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom’s payout ratio is 113.46%.

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.