United Services Automobile Association Sells 330,760 Shares of Broadcom Inc. $AVGO

Key Points

• United Services Automobile Association reduced its holdings in Broadcom Inc. by 75.2% in the first quarter, selling 330,760 shares and now owning 108,903 shares valued at approximately $18.4 million.
• Other institutional investors, including Vanguard Group and Price T Rowe Associates, have increased their stakes in Broadcom, indicating strong institutional interest in the stock.
• Broadcom recently declared a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield, with the ex-dividend date set for September 22nd.

United Services Automobile Association lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 75.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 108,903 shares of the semiconductor manufacturer's stock after selling 330,760 shares during the period. United Services Automobile Association's holdings in Broadcom were worth $18,418,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AVGO. Vanguard Group Inc. increased its stake in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Nuveen LLC acquired a new position in shares of Broadcom during the first quarter valued at about $6,649,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Broadcom by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after acquiring an additional 581,704 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Broadcom by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after acquiring an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 415,956 shares of the company's stock, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Susquehanna upped their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. KeyCorp increased their price target on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Piper Sandler raised their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $351.00.

Broadcom Trading Up 9.4%

NASDAQ AVGO opened at $334.89 on Monday. The business's fifty day moving average is $292.09 and its 200-day moving average is $237.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16. Broadcom Inc. has a one year low of $134.90 and a one year high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is 60.20%.

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.

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