First Financial Bank Trust Division Has $8.12 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

First Financial Bank Trust Division increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,031 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,021 shares during the period. First Financial Bank Trust Division’s holdings in Broadcom were worth $8,122,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Global Wealth Strategies & Associates increased its position in Broadcom by 60.6% in the 4th quarter. Global Wealth Strategies & Associates now owns 506 shares of the semiconductor manufacturer’s stock valued at $117,000 after acquiring an additional 191 shares during the period. BancFirst Trust & Investment Management acquired a new stake in Broadcom in the fourth quarter valued at $294,000. Independent Solutions Wealth Management LLC increased its holdings in Broadcom by 846.9% in the third quarter. Independent Solutions Wealth Management LLC now owns 49,136 shares of the semiconductor manufacturer’s stock valued at $8,476,000 after purchasing an additional 43,947 shares during the period. Syntax Research Inc. raised its position in Broadcom by 882.8% during the 3rd quarter. Syntax Research Inc. now owns 6,899 shares of the semiconductor manufacturer’s stock worth $1,190,000 after purchasing an additional 6,197 shares during the last quarter. Finally, SMART Wealth LLC acquired a new position in Broadcom during the 3rd quarter worth about $662,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 0.0 %

Shares of AVGO traded down $0.06 on Thursday, reaching $231.78. The company’s stock had a trading volume of 26,102,898 shares, compared to its average volume of 30,456,207. Broadcom Inc. has a twelve month low of $104.15 and a twelve month high of $251.88. The stock has a market capitalization of $1.09 trillion, a PE ratio of 201.37, a PEG ratio of 2.15 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average of $188.87 and a 200-day moving average of $173.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom’s dividend payout ratio is presently 191.87%.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Morgan Stanley increased their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Jefferies Financial Group increased their target price 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. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Benchmark restated a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,408 shares of company stock worth $33,412,228 over the last quarter. 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.