Broadcom Inc. (NASDAQ:AVGO) is Glenview Trust co’s 9th Largest Position

Glenview Trust co lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 522,296 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,524 shares during the period. Broadcom comprises approximately 2.3% of Glenview Trust co’s portfolio, making the stock its 9th largest position. Glenview Trust co’s holdings in Broadcom were worth $121,089,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AVGO. Pin Oak Investment Advisors Inc. lifted its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $26,000. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% in the third 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, Bellevue Asset Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Up 2.2 %

Shares of Broadcom stock opened at $195.54 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a market capitalization of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. The business has a 50 day moving average price of $218.12 and a 200 day moving average price of $193.91.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is currently 113.46%.

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.