OLD Point Trust & Financial Services N A Buys 100 Shares of Broadcom Inc. (NASDAQ:AVGO)

OLD Point Trust & Financial Services N A boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 142.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170 shares of the semiconductor manufacturer’s stock after acquiring an additional 100 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Broadcom were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. BluePointe Capital Management LLC raised its position in shares of Broadcom by 3.3% in the 4th quarter. BluePointe Capital Management LLC now owns 5,905 shares of the semiconductor manufacturer’s stock valued at $1,369,000 after buying an additional 189 shares in the last quarter. Berkshire Capital Holdings Inc. raised its position in Broadcom by 6.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 71,810 shares of the semiconductor manufacturer’s stock valued at $16,648,000 after purchasing an additional 4,440 shares in the last quarter. Symmetry Partners LLC bought a new stake in Broadcom during the fourth quarter worth $315,000. Fiduciary Group LLC boosted its holdings in shares of Broadcom by 2.3% in the 4th quarter. Fiduciary Group LLC now owns 6,970 shares of the semiconductor manufacturer’s stock valued at $1,616,000 after purchasing an additional 160 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Broadcom by 41.1% in the 4th quarter. Teacher Retirement System of Texas now owns 1,516,759 shares of the semiconductor manufacturer’s stock valued at $351,645,000 after purchasing an additional 441,509 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Evercore ISI raised 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. Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Price Performance

AVGO stock opened at $190.54 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company’s 50-day moving average is $215.03 and its 200-day moving average is $194.59. The stock has a market capitalization of $895.91 billion, a PE ratio of 155.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,168 shares of company stock worth $40,508,877 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.