Unified Investment Management Has $305,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Unified Investment Management trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,822 shares of the semiconductor manufacturer's stock after selling 1,398 shares during the quarter. Unified Investment Management's holdings in Broadcom were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the 1st quarter valued at approximately $25,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the fourth quarter valued at $26,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the fourth quarter worth about $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVGO. Citigroup lifted their price objective on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Morgan Stanley increased their price objective on Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Finally, UBS Group boosted their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average price target of $281.46.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,716 shares of company stock worth $221,433,761. Insiders own 2.00% of the company's stock.

Broadcom Trading Up 1.8%

NASDAQ AVGO traded up $4.97 on Thursday, hitting $274.87. 10,592,655 shares of the company were exchanged, compared to its average volume of 28,641,799. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $277.71. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 102.95, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12. The company's 50 day moving average price is $235.38 and its 200-day moving average price is $216.81.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the firm posted $10.96 earnings per share. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom declared that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.