Broadcom Inc. (NASDAQ:AVGO) Shares Sold by NBT Bank N A NY

NBT Bank N A NY trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,269 shares of the semiconductor manufacturer’s stock after selling 3,061 shares during the quarter. NBT Bank N A NY’s holdings in Broadcom were worth $2,381,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SLT Holdings LLC purchased a new stake in Broadcom in the 4th quarter worth $2,781,000. Sound View Wealth Advisors Group LLC raised its holdings in shares of Broadcom by 5.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 52,588 shares of the semiconductor manufacturer’s stock worth $12,192,000 after acquiring an additional 2,727 shares during the period. Ceera Investments LLC purchased a new position in Broadcom in the fourth quarter worth approximately $218,000. Pettee Investors Inc. lifted its holdings in shares of Broadcom by 11.1% in the 4th quarter. Pettee Investors Inc. now owns 3,010 shares of the semiconductor manufacturer’s stock worth $698,000 after acquiring an additional 300 shares during the last quarter. Finally, Argentarii LLC purchased a new position in Broadcom during the 4th quarter valued at about $5,419,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Barclays lifted their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday. Finally, Morgan Stanley boosted their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last ninety days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $194.96 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $222.28 and its two-hundred day moving average price is $193.12. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.