Intrust Bank NA increased its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,070 shares of the semiconductor manufacturer’s stock after acquiring an additional 99 shares during the quarter. Broadcom makes up 0.8% of Intrust Bank NA’s holdings, making the stock its 24th largest holding. Intrust Bank NA’s holdings in Broadcom were worth $6,776,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of AVGO. Pathway Financial Advisors LLC grew its holdings in shares of Broadcom by 11.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after buying an additional 93 shares in the last quarter. RMR Wealth Builders grew its holdings in shares of Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in Broadcom by 66.6% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after purchasing an additional 1,704 shares during the last quarter. CI Investments Inc. boosted its position in Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after purchasing an additional 64,912 shares during the last quarter. Finally, NatWest Group plc boosted its position in Broadcom by 8.2% during the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after purchasing an additional 631 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Broadcom Stock Performance
AVGO traded down $5.45 on Monday, hitting $1,338.62. 1,295,933 shares of the stock traded hands, compared to its average volume of 2,909,005. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a market capitalization of $620.34 billion, a PE ratio of 49.58, a P/E/G ratio of 2.74 and a beta of 1.25. The business has a fifty day moving average price of $1,306.70 and a two-hundred day moving average price of $1,137.84. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.
Broadcom Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. Broadcom’s dividend payout ratio is currently 77.84%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Cantor Fitzgerald boosted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.
Check Out Our Latest Report on Broadcom
Insider Activity
In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.
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.
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