Parkside Financial Bank & Trust Has $4.10 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Parkside Financial Bank & Trust boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,698 shares of the semiconductor manufacturer’s stock after acquiring an additional 367 shares during the period. Parkside Financial Bank & Trust’s holdings in Broadcom were worth $4,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. raised its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $26,000. JDM Financial Group LLC raised its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $37,000. Finally, R Squared Ltd acquired a new position in shares of Broadcom during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the 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 directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. 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 three months. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AVGO. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial upped their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lowered their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Benchmark reissued a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Price Performance

Shares of Broadcom stock opened at $199.29 on Friday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year 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 firm’s 50-day moving average price is $227.44 and its two-hundred day moving average price is $191.86. The stock has a market capitalization of $934.16 billion, a price-to-earnings ratio of 162.56, a P/E/G ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

About Broadcom

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.