First National Bank of Hutchinson Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

First National Bank of Hutchinson grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,450 shares of the semiconductor manufacturer’s stock after buying an additional 252 shares during the quarter. Broadcom comprises 1.7% of First National Bank of Hutchinson’s investment portfolio, making the stock its 14th biggest holding. First National Bank of Hutchinson’s holdings in Broadcom were worth $2,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Swedbank AB boosted its holdings in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC boosted its stake in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC grew its holdings in shares of Broadcom by 896.9% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after acquiring an additional 2,619 shares during the period. Principal Financial Group Inc. increased its stake in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its holdings in Broadcom by 663.8% during the third quarter. Mill Creek Capital Advisors LLC now owns 6,080 shares of the semiconductor manufacturer’s stock worth $1,049,000 after purchasing an additional 5,284 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was 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 directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,738 shares of company stock valued at $43,395,200. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.7 %

Shares of NASDAQ:AVGO opened at $195.57 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a 50-day simple moving average of $215.81 and a 200-day simple moving average of $194.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $919.56 billion, a P/E ratio of 159.52, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

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

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.