UMB Bank n.a. Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

UMB Bank n.a. lessened its holdings in Broadcom Inc. (NASDAQ:AVGOFree Report) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,686 shares of the semiconductor manufacturer’s stock after selling 11,675 shares during the quarter. Broadcom accounts for 0.9% of UMB Bank n.a.’s investment portfolio, making the stock its 26th biggest position. UMB Bank n.a.’s holdings in Broadcom were worth $63,276,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AVGO. Rise Advisors LLC increased its position in shares of Broadcom by 76.5% in the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares during the period. Bollard Group LLC purchased a new position in shares of Broadcom in the second quarter valued at about $26,000. Macroview Investment Management LLC purchased a new position in shares of Broadcom in the third quarter valued at about $29,000. BKM Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $29,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Broadcom in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 1.8 %

Shares of NASDAQ AVGO opened at $1,363.21 on Thursday. The firm’s 50 day moving average price is $1,284.79 and its 200-day moving average price is $1,080.21. The company has a market cap of $631.74 billion, a PE ratio of 50.53, a P/E/G ratio of 2.85 and a beta of 1.25. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.83 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.54%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AVGO shares. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Barclays started coverage on shares of Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target on the stock. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Get Our Latest Research Report on AVGO

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 22,310 shares of company stock worth $29,405,117 over the last quarter. Company insiders own 2.00% of the company’s stock.

About Broadcom

(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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