Enterprise Bank & Trust Co Sells 82 Shares of Broadcom Inc. (NASDAQ:AVGO)

Enterprise Bank & Trust Co reduced its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403 shares of the semiconductor manufacturer’s stock after selling 82 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Broadcom were worth $450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC raised its holdings in Broadcom by 76.5% in the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Bollard Group LLC purchased a new position in Broadcom during the 2nd quarter worth $26,000. Macroview Investment Management LLC acquired a new position in Broadcom during the 3rd quarter valued at about $29,000. Indiana Trust & Investment Management CO purchased a new stake in Broadcom in the third quarter valued at about $32,000. Finally, VitalStone Financial LLC boosted its holdings in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 800 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $1,140.30, for a total value of $912,240.00. Following the sale, the director now directly owns 810 shares of the company’s stock, valued at approximately $923,643. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $1,140.30, for a total transaction of $912,240.00. Following the completion of the transaction, the director now owns 810 shares in the company, valued at approximately $923,643. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,450 shares of company stock valued at $30,033,861. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded down $26.77 on Friday, hitting $1,235.50. The company’s stock had a trading volume of 8,882,251 shares, compared to its average volume of 3,070,406. The firm has a 50 day moving average of $1,238.20 and a two-hundred day moving average of $1,039.24. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market cap of $572.56 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 EPS. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be paid a $5.25 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.70%. Broadcom’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AVGO shares. Citigroup reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a research note on Monday, December 11th. TD Cowen increased their price objective on shares of Broadcom from $1,000.00 to $1,400.00 and gave the stock a “market perform” rating in a research note on Friday, March 8th. Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Cantor Fitzgerald raised their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, KeyCorp raised their price target on shares of Broadcom from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Friday, November 24th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,154.45.

Read Our Latest Report on Broadcom

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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