FineMark National Bank & Trust Has $34.82 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

FineMark National Bank & Trust lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,192 shares of the semiconductor manufacturer’s stock after selling 480 shares during the quarter. Broadcom comprises approximately 1.4% of FineMark National Bank & Trust’s holdings, making the stock its 10th largest position. FineMark National Bank & Trust’s holdings in Broadcom were worth $34,818,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadcom during the 4th quarter worth about $25,000. PSI Advisors LLC lifted its position in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $29,000. CKW Financial Group acquired a new position in shares of Broadcom during the 4th quarter worth about $30,000. Finally, Bfsg LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO traded down $5.98 during trading hours on Thursday, reaching $1,386.26. 2,175,825 shares of the company’s stock were exchanged, compared to its average volume of 2,771,362. The stock has a market cap of $642.42 billion, a PE ratio of 51.50, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25. Broadcom Inc. has a one year low of $676.06 and a one year high of $1,445.40. The firm has a fifty day moving average of $1,318.57 and a 200-day moving average of $1,195.69. 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 (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.83 EPS. On average, equities research analysts predict that Broadcom Inc. will post 36.06 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given 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 1.51%. Broadcom’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Benchmark reissued a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Evercore ISI assumed coverage on Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,296.91.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction 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 in the company, valued at approximately $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. 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. 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.