Broadcom Inc. (NASDAQ:AVGO) Shares Sold by First National Bank of Hutchinson

First National Bank of Hutchinson cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,139 shares of the semiconductor manufacturer’s stock after selling 25 shares during the period. Broadcom accounts for about 0.9% of First National Bank of Hutchinson’s holdings, making the stock its 22nd largest holding. First National Bank of Hutchinson’s holdings in Broadcom were worth $1,271,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BetterWealth LLC increased its position in shares of Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after acquiring an additional 9 shares during the last quarter. Rise Advisors LLC increased its holdings in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares during the last quarter. CX Institutional raised its position in Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares during the period. Cascade Investment Group Inc. lifted its stake in Broadcom by 1.7% during the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after purchasing an additional 10 shares in the last quarter. Finally, Sabal Trust CO boosted its position in shares of Broadcom by 1.6% during the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock worth $714,000 after buying an additional 10 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $1,367.52, for a total transaction of $3,418,800.00. Following the completion of the transaction, the insider now directly owns 44,474 shares in the company, valued at $60,819,084.48. The disclosure for this sale can be found here. Insiders have sold 24,310 shares of company stock valued at $32,840,567 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AVGO. Cantor Fitzgerald boosted their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday. Barclays assumed coverage on shares of Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Finally, Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,255.18.

Broadcom Stock Performance

AVGO traded down $9.26 on Monday, reaching $1,330.17. The company had a trading volume of 319,637 shares, compared to its average volume of 2,997,428. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market capitalization of $616.43 billion, a PE ratio of 49.65, a P/E/G ratio of 2.86 and a beta of 1.25. The stock has a 50-day moving average price of $1,289.24 and a 200-day moving average price of $1,088.71.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.83 EPS. As a group, research analysts forecast that Broadcom Inc. will post 36.31 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.