Country Club Bank Has $21.46 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Country Club Bank lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,095 shares of the semiconductor manufacturer’s stock after selling 1,671 shares during the quarter. Broadcom accounts for approximately 1.4% of Country Club Bank’s investment portfolio, making the stock its 14th largest position. Country Club Bank’s holdings in Broadcom were worth $21,460,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Castleview Partners LLC raised its stake in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC raised its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom during the 4th quarter worth about $37,000. Finally, Tsfg LLC grew its position in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 2.8 %

AVGO stock opened at $224.87 on Friday. The firm has a market capitalization of $1.05 trillion, a PE ratio of 183.42, a P/E/G ratio of 2.31 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock’s 50 day moving average is $218.50 and its 200-day moving average is $183.74.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Truist Financial increased their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insiders Place Their Bets

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.