Broadcom Inc. (NASDAQ:AVGO) Stock Position Boosted by Quadrant Capital Group LLC

Quadrant Capital Group LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 50,118 shares of the semiconductor manufacturer’s stock after buying an additional 332 shares during the period. Broadcom comprises approximately 0.8% of Quadrant Capital Group LLC’s holdings, making the stock its 18th largest position. Quadrant Capital Group LLC’s holdings in Broadcom were worth $11,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Howard Capital Management Group LLC raised its position in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Redwood Investment Management LLC lifted its stake in Broadcom by 319.2% during the third quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock valued at $647,000 after purchasing an additional 2,854 shares during the last quarter. Wexford Capital LP boosted its holdings in Broadcom by 469.3% during the third quarter. Wexford Capital LP now owns 1,429 shares of the semiconductor manufacturer’s stock worth $247,000 after buying an additional 1,178 shares in the last quarter. Finally, United Services Automobile Association grew its position in Broadcom by 637.9% in the third quarter. United Services Automobile Association now owns 436,761 shares of the semiconductor manufacturer’s stock worth $75,341,000 after buying an additional 377,573 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

AVGO stock opened at $146.29 on Friday. The firm has a 50 day moving average of $201.57 and a two-hundred day moving average of $196.19. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value 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 approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 745,976 shares of company stock valued at $138,632,902 over the last three months. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.