13,705 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Chokshi & Queen Wealth Advisors Inc

Chokshi & Queen Wealth Advisors Inc purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,705 shares of the semiconductor manufacturer’s stock, valued at approximately $3,177,000. Broadcom makes up about 2.0% of Chokshi & Queen Wealth Advisors Inc’s holdings, making the stock its 10th biggest position.

Other large investors have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. grew its holdings in shares of Broadcom by 344.4% during the fourth quarter. Polar Asset Management Partners Inc. now owns 280,000 shares of the semiconductor manufacturer’s stock worth $64,915,000 after purchasing an additional 217,000 shares during the last quarter. Garde Capital Inc. lifted its position in Broadcom by 11.3% during the 4th quarter. Garde Capital Inc. now owns 12,377 shares of the semiconductor manufacturer’s stock worth $2,869,000 after buying an additional 1,257 shares in the last quarter. Instrumental Wealth LLC grew its holdings in Broadcom by 5.6% during the 4th quarter. Instrumental Wealth LLC now owns 1,372 shares of the semiconductor manufacturer’s stock worth $300,000 after acquiring an additional 73 shares during the last quarter. Hall Capital Management Co. Inc. acquired a new stake in Broadcom in the 4th quarter valued at about $918,000. Finally, Liberty Square Wealth Partners LLC acquired a new stake in Broadcom in the 4th quarter valued at about $466,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVGO. Benchmark reissued a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Stock Performance

NASDAQ:AVGO opened at $228.72 on Friday. The stock has a 50 day simple moving average of $190.82 and a 200 day simple moving average of $201.42. The stock has a market cap of $1.08 trillion, a P/E ratio of 186.56, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 1-year low of $128.50 and a 1-year 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.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Broadcom declared that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

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.