Broadcom Inc. (NASDAQ:AVGO) Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 258,124 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,442 shares during the quarter. Broadcom makes up approximately 0.7% of RWA Wealth Partners LLC’s portfolio, making the stock its 19th biggest holding. RWA Wealth Partners LLC’s holdings in Broadcom were worth $59,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $32,000. Bellevue Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 785,976 shares of company stock worth $147,912,102 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.7 %

NASDAQ AVGO opened at $169.12 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $795.19 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01. The firm has a 50 day simple moving average of $209.48 and a 200-day simple moving average of $196.25. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom’s dividend payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVGO. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Company 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.