HWG Holdings LP Buys 8,605 Shares of Broadcom Inc. (NASDAQ:AVGO)

HWG Holdings LP increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 80.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,325 shares of the semiconductor manufacturer's stock after purchasing an additional 8,605 shares during the period. Broadcom makes up about 1.5% of HWG Holdings LP's holdings, making the stock its 22nd biggest holding. HWG Holdings LP's holdings in Broadcom were worth $4,480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom during the 4th quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom during the 4th quarter valued at approximately $32,000. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the transaction, the director now directly owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AVGO shares. Morgan Stanley boosted their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Up 3.0%

Shares of AVGO stock traded up $6.93 during mid-day trading on Tuesday, hitting $235.65. The company's stock had a trading volume of 17,906,364 shares, compared to its average volume of 31,055,312. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.21, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The business has a 50-day moving average price of $191.49 and a 200 day moving average price of $201.86.

Broadcom announced that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 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.