82,671 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Haven Capital Group Inc.

Haven Capital Group Inc. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 82,671 shares of the semiconductor manufacturer’s stock, valued at approximately $19,166,000. Broadcom accounts for approximately 18.0% of Haven Capital Group Inc.’s investment portfolio, making the stock its largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of 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 during the period. Finally, Synergy Investment Management LLC acquired a new position in Broadcom in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AVGO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley boosted their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Citigroup boosted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,738 shares of company stock valued at $43,395,200 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $194.50 on Tuesday. The firm has a market cap of $914.53 billion, a price-to-earnings ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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’s 50-day moving average is $217.28 and its two-hundred day moving average is $194.43. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.