Trust Co of Kansas Sells 50 Shares of Broadcom Inc. (NASDAQ:AVGO)

Trust Co of Kansas decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,110 shares of the semiconductor manufacturer’s stock after selling 50 shares during the quarter. Trust Co of Kansas’ holdings in Broadcom were worth $257,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Broadcom by 4.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 14,492 shares of the semiconductor manufacturer’s stock worth $3,360,000 after acquiring an additional 563 shares during the last quarter. Dakota Community Bank & Trust NA increased its position in shares of Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares during the last quarter. TrueWealth Advisors LLC raised its holdings in Broadcom by 4.2% during the 4th quarter. TrueWealth Advisors LLC now owns 2,073 shares of the semiconductor manufacturer’s stock valued at $481,000 after buying an additional 84 shares during the period. Trivant Custom Portfolio Group LLC raised its holdings in Broadcom by 2.9% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 3,520 shares of the semiconductor manufacturer’s stock valued at $816,000 after buying an additional 100 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in Broadcom during the fourth quarter worth $37,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO opened at $237.44 on Monday. The company has a 50 day moving average of $202.01 and a two-hundred day moving average of $178.14. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. 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 $112.19 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.98 EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced 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 of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.83.

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.