Thomasville National Bank Has $402,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Thomasville National Bank grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,020.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,330 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,122 shares during the quarter. Thomasville National Bank’s holdings in Broadcom were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVGO. AXA S.A. increased its holdings in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Renaissance Investment Group LLC grew its position in shares of Broadcom by 851.2% during the 3rd quarter. Renaissance Investment Group LLC now owns 120,969 shares of the semiconductor manufacturer’s stock worth $20,867,000 after buying an additional 108,251 shares during the period. MRA Advisory Group increased its stake in shares of Broadcom by 954.1% in the 3rd quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after acquiring an additional 8,558 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Broadcom by 19.1% during the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after acquiring an additional 84,196 shares in the last quarter. Finally, Red Spruce Capital LLC boosted its stake in Broadcom by 854.9% during the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock worth $5,678,000 after acquiring an additional 29,468 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 0.5 %

AVGO opened at $182.31 on Tuesday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company’s 50-day moving average price is $163.72 and its two-hundred day moving average price is $151.97. The stock has a market cap of $848.63 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.99 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company earned $0.95 earnings per share. Broadcom’s revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 295,130 shares of company stock valued at $50,646,622 over the last three months. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVGO. UBS Group dropped their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Benchmark reissued a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.54.

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.