Peoples Bank OH Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Peoples Bank OH decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 55.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,550 shares of the semiconductor manufacturer’s stock after selling 3,229 shares during the quarter. Peoples Bank OH’s holdings in Broadcom were worth $591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cordatus Wealth Management LLC increased its position in Broadcom by 1.8% in the fourth quarter. Cordatus Wealth Management LLC now owns 61,741 shares of the semiconductor manufacturer’s stock worth $14,314,000 after buying an additional 1,081 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter worth about $458,000. JLB & Associates Inc. boosted its stake in shares of Broadcom by 10.0% in the fourth quarter. JLB & Associates Inc. now owns 7,902 shares of the semiconductor manufacturer’s stock worth $1,832,000 after acquiring an additional 720 shares during the period. White Wing Wealth Management bought a new position in shares of Broadcom in the fourth quarter worth about $215,000. Finally, Nicholson Wealth Management Group LLC boosted its stake in shares of Broadcom by 329.2% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 8,293 shares of the semiconductor manufacturer’s stock worth $1,923,000 after acquiring an additional 6,361 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Citigroup upped their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler upped their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % 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. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $218.61 on Monday. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The business has a 50 day simple moving average of $230.09 and a 200-day simple moving average of $190.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for 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 revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

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.