Boxwood Ventures Inc. Takes $2.34 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Boxwood Ventures Inc. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,082 shares of the semiconductor manufacturer’s stock, valued at approximately $2,337,000. Broadcom makes up about 3.1% of Boxwood Ventures Inc.’s holdings, making the stock its 9th largest holding.

Several other large investors have also recently bought and sold shares of AVGO. Vanguard Group Inc. boosted its stake in Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. State Street Corp boosted its position in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. Norges Bank acquired a new stake in Broadcom during the fourth quarter valued at approximately $16,893,010,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Broadcom by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock worth $7,606,291,000 after buying an additional 810,907 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

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 value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were 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. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 785,976 shares of company stock worth $147,912,102. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial upped 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. Finally, Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three equities 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 data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Down 1.7 %

Shares of NASDAQ:AVGO opened at $169.12 on Monday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market cap of $795.19 billion, a P/E ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. The stock’s 50-day moving average is $209.48 and its 200-day moving average is $196.51.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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.