Broadcom Inc. (NASDAQ:AVGO) Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 243,434 shares of the semiconductor manufacturer’s stock after selling 19,455 shares during the period. United Capital Financial Advisors LLC’s holdings in Broadcom were worth $56,438,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $32,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new position in Broadcom in the 4th quarter worth about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.68.

Broadcom Trading Down 2.0 %

Shares of AVGO opened at $178.36 on Tuesday. The stock has a fifty day moving average price of $194.45 and a two-hundred day moving average price of $196.15. 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 market cap of $838.64 billion, a price-to-earnings ratio of 145.48, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom announced that its Board of Directors has approved a share repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.