West Tower Group LLC Buys 300 Shares of Broadcom Inc. (NASDAQ:AVGO)

West Tower Group LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 42.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,000 shares of the semiconductor manufacturer’s stock after acquiring an additional 300 shares during the period. West Tower Group LLC’s holdings in Broadcom were worth $232,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $188.67 on Wednesday. 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 company has a market capitalization of $887.12 billion, a price-to-earnings ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01. The stock has a 50 day moving average of $216.48 and a 200 day moving average of $194.61. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,738 shares of company stock valued at $43,395,200. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVGO. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Benchmark restated a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

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.