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

United Services Automobile Association raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 439,663 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,902 shares during the period. Broadcom comprises 3.4% of United Services Automobile Association’s holdings, making the stock its 3rd biggest holding. United Services Automobile Association’s holdings in Broadcom were worth $101,931,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

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 transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,168 shares of company stock valued at $37,108,677. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on AVGO. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Price Performance

Shares of AVGO opened at $191.66 on Monday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm has a 50 day moving average of $214.38 and a 200 day moving average of $195.37. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s payout ratio is 113.46%.

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.