Uniting Wealth Partners LLC Makes New $329,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Uniting Wealth Partners LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,420 shares of the semiconductor manufacturer’s stock, valued at approximately $329,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC increased its stake in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the period. Principal Financial Group Inc. increased its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Broadcom by 839.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 122,506 shares of the semiconductor manufacturer’s stock valued at $21,132,000 after buying an additional 109,459 shares during the period. Motley Fool Asset Management LLC boosted its stake in shares of Broadcom by 876.2% during the 3rd quarter. Motley Fool Asset Management LLC now owns 187,958 shares of the semiconductor manufacturer’s stock valued at $31,477,000 after buying an additional 168,703 shares during the period. Finally, Morse Asset Management Inc grew its stake in Broadcom by 899.9% in the third quarter. Morse Asset Management Inc now owns 66,044 shares of the semiconductor manufacturer’s stock valued at $11,393,000 after purchasing an additional 59,439 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on 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 completion of the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 745,976 shares of company stock valued at $138,632,902 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on AVGO shares. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 2.1 %

Shares of Broadcom stock opened at $172.09 on Thursday. The company has a market capitalization of $809.16 billion, a P/E ratio of 140.37, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a fifty day moving average of $205.27 and a 200 day moving average of $196.37. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. Broadcom’s dividend payout ratio is presently 113.46%.

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.