57,859 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Cambridge Financial Group Inc.

Cambridge Financial Group Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 57,859 shares of the semiconductor manufacturer’s stock, valued at approximately $13,414,000. Broadcom accounts for approximately 5.5% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Howard Capital Management Group LLC increased its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Quest Partners LLC grew its position in shares of Broadcom by 3,295.8% during the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock worth $141,000 after purchasing an additional 791 shares in the last quarter. Insight Wealth Partners LLC lifted its holdings in Broadcom by 898.5% in the 3rd quarter. Insight Wealth Partners LLC now owns 7,259 shares of the semiconductor manufacturer’s stock worth $1,252,000 after purchasing an additional 6,532 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new position in Broadcom in the 3rd quarter worth approximately $1,577,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. 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 corporate insiders.

Broadcom Price Performance

Shares of AVGO stock opened at $169.12 on Friday. The stock has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a P/E/G 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. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a fifty day simple moving average of $209.48 and a two-hundred day simple moving average of $195.91.

Broadcom Announces Dividend

The firm also recently announced 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 yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Barclays boosted their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.