United Services Automobile Association Has $101.93 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

United Services Automobile Association lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 439,663 shares of the semiconductor manufacturer's stock after buying an additional 2,902 shares during the quarter. Broadcom comprises about 3.4% of United Services Automobile Association's portfolio, making the stock its 3rd largest holding. United Services Automobile Association's holdings in Broadcom were worth $101,931,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC grew its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $33,000. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock valued at $21,494,560 over the last ninety days. 2.00% of the stock is currently owned by insiders.

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Broadcom Stock Down 1.6 %

Shares of Broadcom stock traded down $2.99 during trading hours on Tuesday, reaching $188.26. The company's stock had a trading volume of 23,323,190 shares, compared to its average volume of 28,950,584. 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 stock's fifty day simple moving average is $213.70 and its two-hundred day simple moving average is $195.64. The company has a market capitalization of $885.19 billion, a P/E ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $231.48.

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.