Northwest Quadrant Wealth Management LLC Acquires Shares of 1,311 Broadcom Inc. (NASDAQ:AVGO)

Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,311 shares of the semiconductor manufacturer's stock, valued at approximately $304,000.

A number of other large investors have also made changes to their positions in the stock. Regent Peak Wealth Advisors LLC grew its stake in Broadcom by 3.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock worth $3,086,000 after buying an additional 386 shares during the last quarter. RMR Wealth Builders lifted its holdings in Broadcom by 1.0% in the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer's stock valued at $16,315,000 after buying an additional 676 shares during the period. Brookstone Capital Management lifted its holdings in Broadcom by 0.5% in the fourth quarter. Brookstone Capital Management now owns 39,007 shares of the semiconductor manufacturer's stock valued at $9,043,000 after buying an additional 204 shares during the period. Accelerate Investment Advisors LLC lifted its holdings in Broadcom by 58.7% in the fourth quarter. Accelerate Investment Advisors LLC now owns 2,070 shares of the semiconductor manufacturer's stock valued at $480,000 after buying an additional 766 shares during the period. Finally, Bridge Creek Capital Management LLC acquired a new stake in Broadcom in the fourth quarter worth $226,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Barclays lowered their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Price Performance

AVGO stock traded down $4.03 during trading on Friday, reaching $228.61. 22,996,350 shares of the company were exchanged, compared to its average volume of 31,255,540. The company has a 50-day moving average of $187.08 and a two-hundred day moving average of $199.41. The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a twelve month low of $128.50 and a twelve month 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 declared that its Board of Directors has initiated a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 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.