United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 105,931 shares of the semiconductor manufacturer’s stock, valued at approximately $24,559,000.

Other institutional investors also recently bought and sold shares of the company. Aviso Wealth Management increased its stake in Broadcom by 0.6% in the fourth quarter. Aviso Wealth Management now owns 12,706 shares of the semiconductor manufacturer’s stock valued at $2,946,000 after purchasing an additional 73 shares during the last quarter. Sellwood Investment Partners LLC purchased a new position in Broadcom during the fourth quarter worth approximately $32,000. Banco BTG Pactual S.A. boosted its holdings in shares of Broadcom by 28.2% in the 4th quarter. Banco BTG Pactual S.A. now owns 47,745 shares of the semiconductor manufacturer’s stock valued at $11,076,000 after purchasing an additional 10,512 shares during the last quarter. Core Wealth Partners LLC grew its stake in shares of Broadcom by 7.0% during the 4th quarter. Core Wealth Partners LLC now owns 8,743 shares of the semiconductor manufacturer’s stock valued at $2,027,000 after buying an additional 573 shares during the period. Finally, Ausdal Financial Partners Inc. raised its position in shares of Broadcom by 24.7% in the 4th quarter. Ausdal Financial Partners Inc. now owns 7,642 shares of the semiconductor manufacturer’s stock worth $1,772,000 after buying an additional 1,512 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $188.26 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm’s 50 day moving average is $212.97 and its two-hundred day moving average is $196.00. The firm has a market capitalization of $885.19 billion, a P/E ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom’s payout ratio is 113.46%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,000 shares of company stock valued at $21,494,560. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Evercore ISI upped their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price 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.