Broadway Wealth Solutions Inc. Acquires Shares of 3,507 Broadcom Inc. (NASDAQ:AVGO)

Broadway Wealth Solutions Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,507 shares of the semiconductor manufacturer’s stock, valued at approximately $813,000. Broadcom accounts for approximately 0.6% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 19th biggest holding.

Other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC boosted its holdings in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the period. Principal Financial Group Inc. boosted its stake in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Quest Partners LLC grew its holdings in Broadcom by 3,295.8% in the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after buying an additional 791 shares in the last quarter. Wiser Advisor Group LLC grew its stake in shares of Broadcom by 1,665.7% in the third quarter. Wiser Advisor Group LLC now owns 618 shares of the semiconductor manufacturer’s stock valued at $107,000 after acquiring an additional 583 shares in the last quarter. Finally, Acorn Wealth Advisors LLC increased its position in Broadcom by 1,244.8% during the third quarter. Acorn Wealth Advisors LLC now owns 2,219 shares of the semiconductor manufacturer’s stock worth $383,000 after acquiring an additional 2,054 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at $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 is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on 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 sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock valued at $27,334,060 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $171.99 on Friday. The stock has a market capitalization of $808.69 billion, a PE ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01. The business’s 50 day simple moving average is $210.84 and its 200 day simple moving average is $195.72. 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 one year low of $119.76 and a one year high of $251.88.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AVGO shares. Morgan Stanley increased their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Truist Financial increased their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.