United Advisor Group LLC Acquires 1,382 Shares of Broadcom Inc. (NASDAQ:AVGO)

United Advisor Group LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.9% in the fourth quarter, according to its most recent Form 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 quarter. United Advisor Group LLC's holdings in Broadcom were worth $1,431,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the fourth quarter worth about $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom during the fourth quarter worth about $32,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 3.0%

Shares of NASDAQ:AVGO traded up $6.93 during trading on Tuesday, hitting $235.65. 17,906,364 shares of the company were exchanged, compared to its average volume of 31,055,312. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.21, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The firm has a fifty day moving average price of $191.49 and a two-hundred day moving average price of $201.86. 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 declared that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently declared 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 dividend yield of 1.00%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the transaction, the director now owns 26,182 shares of the company's stock, valued at $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVGO. Morgan Stanley raised their target price on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Citigroup reduced their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $229.48.

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.