Keybank National Association OH Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

Keybank National Association OH reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,932,096 shares of the semiconductor manufacturer’s stock after selling 49,706 shares during the quarter. Broadcom makes up 1.7% of Keybank National Association OH’s holdings, making the stock its 13th largest position. Keybank National Association OH’s holdings in Broadcom were worth $447,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter valued at approximately $35,000. Retirement Wealth Solutions LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $37,000. Finally, R Squared Ltd purchased a new position in Broadcom in the fourth quarter worth $39,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, 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 transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom 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 sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $187.48 on Wednesday. The firm has a fifty day moving average price of $225.50 and a 200 day moving average price of $192.65. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market cap of $878.79 billion, a P/E ratio of 152.92, a P/E/G ratio of 2.29 and a beta of 1.02. 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 data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AVGO. Morgan Stanley decreased their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.