70,118 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 70,118 shares of the semiconductor manufacturer’s stock, valued at approximately $16,256,000. Broadcom makes up about 0.1% of Brevan Howard Capital Management LP’s investment portfolio, making the stock its 28th largest position.

Other large investors have also recently made changes to their positions in the company. Bulltick Wealth Management LLC increased its holdings in shares of Broadcom by 19.8% during the fourth quarter. Bulltick Wealth Management LLC now owns 9,251 shares of the semiconductor manufacturer’s stock valued at $2,145,000 after acquiring an additional 1,531 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Broadcom by 8.0% in the fourth quarter. Captrust Financial Advisors now owns 1,108,219 shares of the semiconductor manufacturer’s stock worth $256,929,000 after buying an additional 82,529 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Broadcom during the 4th quarter valued at $10,124,000. Caxton Associates LP raised its stake in shares of Broadcom by 1.6% in the fourth quarter. Caxton Associates LP now owns 11,035 shares of the semiconductor manufacturer’s stock worth $2,558,000 after purchasing an additional 170 shares during the last quarter. Finally, Chapman Financial Group LLC bought a new position in shares of Broadcom during the fourth quarter valued at $134,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $203.64 on Monday. The firm’s fifty day moving average is $182.21 and its two-hundred day moving average is $196.72. Broadcom Inc. has a 52-week low of $127.51 and a 52-week high of $251.88. The company has a market cap of $957.50 billion, a P/E ratio of 166.10, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.16%. Broadcom’s dividend payout ratio is currently 113.46%.

Broadcom announced that its Board of Directors has initiated a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $229.48.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. Insiders own 2.00% of the company’s stock.

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.