Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by United Advisor Group LLC

United Advisor Group LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,172 shares of the semiconductor manufacturer's stock after purchasing an additional 1,382 shares during the period. United Advisor Group LLC's holdings in Broadcom were worth $1,431,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $1,846,000. Challenger Wealth Management bought a new position in shares of Broadcom during the 4th quarter valued at approximately $802,000. Ascent Group LLC boosted its position in shares of Broadcom by 5.2% during the 4th quarter. Ascent Group LLC now owns 51,174 shares of the semiconductor manufacturer's stock valued at $11,864,000 after acquiring an additional 2,540 shares during the last quarter. PVG Asset Management Corp bought a new position in shares of Broadcom during the 4th quarter valued at approximately $540,000. Finally, Value Partners Investments Inc. boosted its position in shares of Broadcom by 3.0% during the 4th quarter. Value Partners Investments Inc. now owns 12,021 shares of the semiconductor manufacturer's stock valued at $2,785,000 after acquiring an additional 347 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.6%

Shares of Broadcom stock traded up $3.78 during trading on Wednesday, hitting $239.43. 20,194,457 shares of the stock traded hands, compared to its average volume of 29,101,145. The firm has a market cap of $1.13 trillion, a P/E ratio of 195.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 52-week low of $128.50 and a 52-week high of $251.88. The stock's fifty day simple moving average is $192.39 and its 200 day simple moving average is $202.10.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Citigroup lowered their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, KeyCorp raised their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average price target of $234.15.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was 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. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Company insiders own 2.00% of the company's stock.

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.