Haven Capital Group Inc. Acquires Shares of 82,671 Broadcom Inc. (NASDAQ:AVGO)

Haven Capital Group Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 holdings, making the stock its largest position.

Several other large investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in shares of Broadcom by 0.8% during the 4th quarter. Primecap Management Co. CA now owns 957,880 shares of the semiconductor manufacturer’s stock worth $222,075,000 after acquiring an additional 7,245 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Broadcom by 2.4% during the 4th quarter. Tocqueville Asset Management L.P. now owns 152,366 shares of the semiconductor manufacturer’s stock worth $35,325,000 after acquiring an additional 3,592 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Broadcom by 202.9% during the 4th quarter. William Blair Investment Management LLC now owns 647,615 shares of the semiconductor manufacturer’s stock worth $150,143,000 after acquiring an additional 433,787 shares in the last quarter. Arrien Investments Inc. bought a new position in shares of Broadcom during the 4th quarter worth approximately $231,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Broadcom by 25.3% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 1,165 shares of the semiconductor manufacturer’s stock worth $270,000 after acquiring an additional 235 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 184,738 shares of company stock worth $43,395,200 over the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $194.50 on Tuesday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a market cap of $914.53 billion, a P/E ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01. The company has a 50-day moving average price of $217.28 and a 200 day moving average price of $194.43. 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.