UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.98 Billion Holdings in Broadcom Inc. (NASDAQ:AVGO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,401,379 shares of the semiconductor manufacturer's stock after purchasing an additional 581,704 shares during the quarter. Broadcom makes up about 1.9% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's portfolio, making the stock its 6th largest holding. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.73% of Broadcom worth $7,975,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canton Hathaway LLC bought a new stake in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom during the fourth quarter worth about $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $35,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.9%

AVGO opened at $230.63 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The stock has a market cap of $1.08 trillion, a PE ratio of 188.12, a PEG ratio of 2.29 and a beta of 1.04. The business has a 50 day moving average of $187.81 and a 200-day moving average of $200.05.

Broadcom announced that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Insider Activity

In related 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 transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVGO shares. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Barclays cut their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $229.48.

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.

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