RWQ Financial Management Services Inc. Buys 70,285 Shares of Broadcom Inc. (NASDAQ:AVGO)

RWQ Financial Management Services Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 675.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,688 shares of the semiconductor manufacturer's stock after purchasing an additional 70,285 shares during the quarter. Broadcom accounts for 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 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 135 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its position in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $0.41 during midday trading on Monday, reaching $191.25. The company's stock had a trading volume of 33,115,698 shares, compared to its average volume of 28,963,745. The company has a market cap of $899.25 billion, a P/E ratio of 156.00, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two 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. The business's 50 day moving average price is $214.38 and its two-hundred day moving average price is $195.37.

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Broadcom Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom's payout ratio is 113.46%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the company'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 approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom 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 completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,168 shares of company stock valued at $37,108,677. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Hsbc Global Res raised Broadcom to a "hold" rating in a research report on Tuesday, December 3rd. Citigroup increased 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. Finally, Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat.com, Broadcom currently 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.