Broadcom Inc. (NASDAQ:AVGO) Holdings Lessened by Avalon Trust Co

Avalon Trust Co reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 43,786 shares of the semiconductor manufacturer’s stock after selling 605 shares during the period. Broadcom accounts for about 4.5% of Avalon Trust Co’s holdings, making the stock its 6th biggest holding. Avalon Trust Co’s holdings in Broadcom were worth $48,876,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the fourth quarter valued at $25,000. PSI Advisors LLC raised its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new stake in Broadcom during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $29,000. Finally, CKW Financial Group acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AVGO shares. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Evercore ISI initiated coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Shares of Broadcom stock traded up $39.54 during trading on Friday, hitting $1,278.11. 2,489,755 shares of the company were exchanged, compared to its average volume of 2,435,058. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average price of $1,308.66 and a 200 day moving average price of $1,147.78. The stock has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.52 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.83 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last ninety days. Insiders own 2.00% of the company’s stock.

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.