Broadcom Inc. (NASDAQ:AVGO) Stock Position Lowered by Capital City Trust Co. FL

Capital City Trust Co. FL decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,844 shares of the semiconductor manufacturer’s stock after selling 2,802 shares during the quarter. Broadcom comprises approximately 5.4% of Capital City Trust Co. FL’s holdings, making the stock its 3rd biggest holding. Capital City Trust Co. FL’s holdings in Broadcom were worth $21,757,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC grew its stake in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA lifted its position in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC boosted its holdings in Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC grew its position in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC raised its stake in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO opened at $207.93 on Tuesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market cap of $974.64 billion, a PE ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The business’s 50 day moving average is $229.25 and its 200-day moving average is $190.93. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share 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 dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.13%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’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 completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Mizuho increased their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.