Passumpsic Savings Bank Cuts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Passumpsic Savings Bank reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,688 shares of the semiconductor manufacturer’s stock after selling 216 shares during the quarter. Broadcom accounts for about 2.3% of Passumpsic Savings Bank’s holdings, making the stock its 13th largest holding. Passumpsic Savings Bank’s holdings in Broadcom were worth $3,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. lifted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $37,000. R Squared Ltd bought a new stake in shares of Broadcom in the 4th quarter valued at about $39,000. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Broadcom in the 4th quarter valued at about $46,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.6 %

AVGO stock opened at $218.61 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The business’s 50 day moving average price is $230.09 and its two-hundred day moving average price is $190.49. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Susquehanna boosted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Jefferies Financial Group upped their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.04.

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.