United Asset Strategies Inc. Has $948,000 Position in Broadcom Inc. (NASDAQ:AVGO)

United Asset Strategies Inc. reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 849 shares of the semiconductor manufacturer’s stock after selling 123 shares during the quarter. United Asset Strategies Inc.’s holdings in Broadcom were worth $948,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BetterWealth LLC grew its position in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after buying an additional 9 shares in the last quarter. Rise Advisors LLC grew its position in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. CX Institutional grew its position in Broadcom by 0.8% during the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after buying an additional 10 shares in the last quarter. Cascade Investment Group Inc. grew its position in Broadcom by 1.7% during the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after buying an additional 10 shares in the last quarter. Finally, Sabal Trust CO grew its position in Broadcom by 1.6% during the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock worth $714,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AVGO shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Benchmark reiterated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Susquehanna upped their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,281.09.

Broadcom Stock Performance

Shares of Broadcom stock opened at $1,329.06 on Wednesday. The firm has a fifty day moving average of $1,306.49 and a two-hundred day moving average of $1,114.01. The stock has a market capitalization of $615.91 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 2.67 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.83 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.