CENTRAL TRUST Co Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

CENTRAL TRUST Co lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 484,387 shares of the semiconductor manufacturer’s stock after selling 73,867 shares during the quarter. Broadcom makes up 2.8% of CENTRAL TRUST Co’s portfolio, making the stock its 4th biggest holding. CENTRAL TRUST Co’s holdings in Broadcom were worth $112,300,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC raised its position in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after buying an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA raised its position in Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC raised its position 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 buying an additional 45 shares during the last quarter. Marest Capital LLC raised its position in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC raised its position in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, 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 transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Rosenblatt Securities restated a “buy” rating and set a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Up 2.2 %

NASDAQ AVGO opened at $222.43 on Wednesday. The stock’s 50 day moving average is $214.47 and its 200 day moving average is $182.60. 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 Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $1.04 trillion, a PE ratio of 181.43, a P/E/G ratio of 2.31 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping 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 company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.06%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

About Broadcom

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.