Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Haverford Trust Co

Haverford Trust Co increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,415 shares of the semiconductor manufacturer’s stock after purchasing an additional 475 shares during the quarter. Haverford Trust Co’s holdings in Broadcom were worth $4,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth about $26,000. Bellevue Asset Management LLC purchased a new position in Broadcom during the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.2 %

Shares of NASDAQ:AVGO opened at $191.25 on Tuesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $899.25 billion, a P/E ratio of 156.00, a P/E/G ratio of 2.29 and a beta of 1.01. The firm has a fifty day moving average price of $213.70 and a 200 day moving average price of $195.64.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock worth $21,494,560 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AVGO. Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.48.

About Broadcom

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.