Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,399 shares of the semiconductor manufacturer’s stock after selling 462 shares during the quarter. Broadcom comprises about 1.3% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 25th biggest holding. Community Bank & Trust Waco Texas’ holdings in Broadcom were worth $5,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Collier Financial acquired a new position in Broadcom during the fourth quarter worth $90,000. JSF Financial LLC lifted its stake in Broadcom by 18.9% during the 4th quarter. JSF Financial LLC now owns 8,346 shares of the semiconductor manufacturer’s stock worth $1,935,000 after acquiring an additional 1,325 shares in the last quarter. Weatherly Asset Management L. P. boosted its holdings in Broadcom by 134.5% during the 4th quarter. Weatherly Asset Management L. P. now owns 9,049 shares of the semiconductor manufacturer’s stock valued at $2,098,000 after acquiring an additional 5,190 shares during the period. Atlantic Edge Private Wealth Management LLC grew its position in Broadcom by 20.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 828 shares of the semiconductor manufacturer’s stock valued at $192,000 after acquiring an additional 138 shares in the last quarter. Finally, Wealthcare Capital Partners LLC purchased a new stake in Broadcom during the fourth quarter worth about $532,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.2 %

AVGO opened at $235.80 on Friday. 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 Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The business’s 50 day moving average is $223.78 and its two-hundred day moving average is $186.10. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.33, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group lifted their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

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.