Broadcom Inc. (NASDAQ:AVGO) is RWQ Financial Management Services Inc.’s 7th Largest Position

RWQ Financial Management Services Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 675.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,688 shares of the semiconductor manufacturer’s stock after purchasing an additional 70,285 shares during the quarter. Broadcom makes up about 7.3% of RWQ Financial Management Services Inc.’s holdings, making the stock its 7th biggest 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 and other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $26,000. Bellevue Asset Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,168 shares of company stock worth $40,508,877 in the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AVGO shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Down 2.6 %

Shares of NASDAQ:AVGO opened at $190.54 on Friday. The company has a market cap of $895.91 billion, a price-to-earnings ratio of 155.42, a PEG ratio of 2.29 and a beta of 1.01. The firm has a fifty day moving average price of $215.03 and a two-hundred day moving average price of $194.59. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Broadcom 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.