Broadcom Inc. (NASDAQ:AVGO) Stake Reduced by Citizens National Bank Trust Department

Citizens National Bank Trust Department cut its position in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,544 shares of the semiconductor manufacturer’s stock after selling 1,001 shares during the period. Broadcom makes up about 4.2% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 2nd largest holding. Citizens National Bank Trust Department’s holdings in Broadcom were worth $20,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC grew its stake in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares during the period. Jennison Associates LLC raised its holdings in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the business’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 transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 3.6 %

Shares of AVGO opened at $218.61 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.02 trillion, a PE 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 is $230.09 and its 200 day moving average is $190.11.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.08%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Mizuho increased their price objective on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.