Equitable Trust Co. Purchases 523 Shares of Broadcom Inc. (NASDAQ:AVGO)

Equitable Trust Co. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,872 shares of the semiconductor manufacturer’s stock after buying an additional 523 shares during the quarter. Equitable Trust Co.’s holdings in Broadcom were worth $9,012,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Broadcom in the 4th quarter worth approximately $283,000. Walter & Keenan Wealth Management LLC IN ADV grew its position in Broadcom by 7.1% in the fourth quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,976 shares of the semiconductor manufacturer’s stock valued at $458,000 after acquiring an additional 131 shares during the period. Soltis Investment Advisors LLC raised its stake in Broadcom by 9.6% during the fourth quarter. Soltis Investment Advisors LLC now owns 42,567 shares of the semiconductor manufacturer’s stock worth $9,869,000 after acquiring an additional 3,718 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Broadcom by 15.5% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,193 shares of the semiconductor manufacturer’s stock worth $277,000 after acquiring an additional 160 shares in the last quarter. Finally, Silicon Valley Capital Partners lifted its holdings in shares of Broadcom by 4.8% during the fourth quarter. Silicon Valley Capital Partners now owns 65,333 shares of the semiconductor manufacturer’s stock valued at $15,147,000 after acquiring an additional 2,982 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 0.6 %

NASDAQ:AVGO opened at $236.35 on Thursday. 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 Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock’s fifty day simple moving average is $222.47 and its 200-day simple moving average is $185.75. The firm has a market capitalization of $1.11 trillion, a P/E ratio of 192.78, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 192.50%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group lifted their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho increased their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report 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. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Company 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.