Bank & Trust Co Has $173,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Bank & Trust Co grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 957.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,005 shares of the semiconductor manufacturer’s stock after purchasing an additional 910 shares during the period. Bank & Trust Co’s holdings in Broadcom were worth $173,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Legend Financial Advisors Inc. raised its stake in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN raised its position in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Broadcom during the 1st quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $43,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lowered their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. The Goldman Sachs Group upped their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Cantor Fitzgerald increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $190.29.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,230 shares of company stock valued at $47,190,190 in the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $185.69 on Friday. The firm has a market cap of $864.36 billion, a P/E ratio of 7.99, a P/E/G ratio of 2.78 and a beta of 1.17. The stock’s 50 day moving average is $161.39 and its 200 day moving average is $150.97. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.14%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Broadcom Company 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.