HWG Holdings LP Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

HWG Holdings LP grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 80.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,325 shares of the semiconductor manufacturer's stock after acquiring an additional 8,605 shares during the quarter. Broadcom comprises about 1.5% of HWG Holdings LP's portfolio, making the stock its 22nd biggest position. HWG Holdings LP's holdings in Broadcom were worth $4,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $357,000. Capital & Planning LLC increased its position in shares of Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after acquiring an additional 554 shares during the period. LaFleur & Godfrey LLC boosted its stake in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after buying an additional 12,345 shares during the period. First PREMIER Bank grew its holdings in Broadcom by 117.9% during the 4th quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer's stock worth $197,000 after acquiring an additional 460 shares in the last quarter. Finally, D.B. Root & Company LLC raised its stake in Broadcom by 3.6% in the fourth quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer's stock valued at $1,281,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now owns 26,182 shares of the company's stock, valued at $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last quarter. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AVGO shares. Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Redburn Atlantic assumed coverage on Broadcom in a report on Wednesday. They issued a "buy" rating and a $301.00 target price on the stock. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Mizuho increased their price target on Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Barclays dropped their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.15.

Broadcom Trading Up 0.7%

AVGO stock traded up $1.78 during mid-day trading on Thursday, reaching $241.21. The company's stock had a trading volume of 12,450,026 shares, compared to its average volume of 30,973,277. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The business's 50 day moving average price is $193.34 and its 200 day moving average price is $202.36. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom declared that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom's dividend payout ratio is currently 113.46%.

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.