Atlantic Union Bankshares Corp Trims Position in Broadcom Inc. (NASDAQ:AVGO)

Atlantic Union Bankshares Corp trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,066 shares of the semiconductor manufacturer’s stock after selling 1,640 shares during the quarter. Broadcom accounts for about 2.1% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 8th largest position. Atlantic Union Bankshares Corp’s holdings in Broadcom were worth $36,878,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC grew its holdings in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA boosted 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 acquiring an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its position in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after acquiring an additional 45 shares during the last quarter. Marest Capital LLC boosted its position in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC boosted its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 8.6 %

Broadcom stock opened at $194.96 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $913.85 billion, a price-to-earnings ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock has a 50-day moving average price of $222.28 and a 200 day moving average price of $192.74. 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 (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company 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 company posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 191.87%.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s 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 completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % 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 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday. Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group raised their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho lowered their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.