Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Rockland Trust Co.

Rockland Trust Co. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,597 shares of the semiconductor manufacturer’s stock after selling 453 shares during the period. Rockland Trust Co.’s holdings in Broadcom were worth $602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. NCP Inc. boosted its stake in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Broadcom by 61.4% in the 2nd quarter. Primecap Management Co. CA now owns 95,428 shares of the semiconductor manufacturer’s stock valued at $153,213,000 after purchasing an additional 36,317 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at about $2,116,000. Financial & Tax Architects LLC grew its stake in Broadcom by 20.1% during the 2nd quarter. Financial & Tax Architects LLC now owns 925 shares of the semiconductor manufacturer’s stock worth $1,486,000 after buying an additional 155 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its position in Broadcom by 18.8% during the second quarter. E Fund Management Co. Ltd. now owns 11,981 shares of the semiconductor manufacturer’s stock worth $19,236,000 after buying an additional 1,894 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Stock Performance

AVGO opened at $228.00 on Thursday. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88. The stock has a market cap of $1.07 trillion, a P/E ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03. The stock’s 50 day simple moving average is $199.05 and its 200 day simple moving average is $176.63. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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. 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 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.04%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 191.87%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. Corporate 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.