Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Advantage Trust Co

Advantage Trust Co lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 20.0% during the fourth quarter, Holdings Channel reports. The fund owned 600 shares of the semiconductor manufacturer’s stock after selling 150 shares during the quarter. Advantage Trust Co’s holdings in Broadcom were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bell Bank increased its stake in shares of Broadcom by 1.3% in the fourth quarter. Bell Bank now owns 12,798 shares of the semiconductor manufacturer’s stock worth $2,967,000 after acquiring an additional 164 shares during the period. Peregrine Asset Advisers Inc. boosted its holdings in Broadcom by 909.6% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 23,119 shares of the semiconductor manufacturer’s stock worth $5,360,000 after buying an additional 20,829 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in Broadcom by 21.1% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 5,263 shares of the semiconductor manufacturer’s stock worth $1,220,000 after buying an additional 917 shares in the last quarter. Capital Advisory Group Advisory Services LLC purchased a new stake in Broadcom during the fourth quarter worth $357,000. Finally, Lane & Associates LLC boosted its holdings in Broadcom by 14.1% during the fourth quarter. Lane & Associates LLC now owns 1,519 shares of the semiconductor manufacturer’s stock worth $336,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. Morgan Stanley lowered their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Benchmark reissued a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Mizuho increased their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Three research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Price Performance

Broadcom stock opened at $218.61 on Monday. 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 $1.02 trillion, a P/E ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02. The company has a 50-day moving average price of $230.09 and a 200 day moving average price of $190.49. 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 released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 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.