UNIVEST FINANCIAL Corp Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

UNIVEST FINANCIAL Corp boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,101 shares of the semiconductor manufacturer’s stock after buying an additional 7,712 shares during the quarter. Broadcom makes up about 2.2% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 9th largest holding. UNIVEST FINANCIAL Corp’s holdings in Broadcom were worth $35,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ipsen Advisor Group LLC purchased a new stake in shares of Broadcom in the 4th quarter worth $1,494,000. Trust Investment Advisors grew its holdings in Broadcom by 3.9% during the fourth quarter. Trust Investment Advisors now owns 23,490 shares of the semiconductor manufacturer’s stock valued at $5,446,000 after purchasing an additional 889 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Broadcom in the fourth quarter worth about $3,108,000. Wambolt & Associates LLC raised its stake in shares of Broadcom by 125.8% in the fourth quarter. Wambolt & Associates LLC now owns 10,666 shares of the semiconductor manufacturer’s stock worth $2,473,000 after buying an additional 5,942 shares during the period. Finally, Momentous Wealth Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at about $278,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.6 %

Shares of AVGO stock opened at $188.26 on Wednesday. The company has a market cap of $885.19 billion, a PE ratio of 153.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $212.97 and its two-hundred day simple moving average is $196.00. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s 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 approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,000 shares of company stock worth $21,494,560. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird upped their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.