Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Busey Bank

Busey Bank grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,982 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,094 shares during the quarter. Broadcom comprises 2.3% of Busey Bank’s holdings, making the stock its 9th largest holding. Busey Bank’s holdings in Broadcom were worth $70,243,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. First Affirmative Financial Network raised its holdings in shares of Broadcom by 1.2% in the 4th quarter. First Affirmative Financial Network now owns 5,288 shares of the semiconductor manufacturer’s stock worth $1,226,000 after acquiring an additional 62 shares during the last quarter. Abel Hall LLC raised its stake in shares of Broadcom by 2.3% in the fourth quarter. Abel Hall LLC now owns 6,842 shares of the semiconductor manufacturer’s stock worth $1,586,000 after purchasing an additional 156 shares during the last quarter. Synergy Asset Management LLC lifted its holdings in shares of Broadcom by 1.5% in the fourth quarter. Synergy Asset Management LLC now owns 19,698 shares of the semiconductor manufacturer’s stock valued at $4,570,000 after purchasing an additional 285 shares in the last quarter. Baron Wealth Management LLC boosted its position in shares of Broadcom by 6.1% during the fourth quarter. Baron Wealth Management LLC now owns 1,882 shares of the semiconductor manufacturer’s stock valued at $436,000 after buying an additional 109 shares during the last quarter. Finally, Strategic Planning Group LLC grew its holdings in Broadcom by 1.7% during the fourth quarter. Strategic Planning Group LLC now owns 26,232 shares of the semiconductor manufacturer’s stock worth $6,082,000 after buying an additional 442 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $221.27 on Friday. The stock has a market cap of $1.04 trillion, a P/E ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business’s 50-day moving average price is $213.41 and its two-hundred day moving average price is $181.93. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm posted $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. Benchmark restated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Mizuho boosted 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. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Susquehanna increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.