Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 999 shares of the semiconductor manufacturer’s stock after acquiring an additional 73 shares during the quarter. Independence Bank of Kentucky’s holdings in Broadcom were worth $1,115,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morningstar Investment Services LLC lifted its holdings in shares of Broadcom by 50.1% in the 2nd quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock valued at $649,000 after purchasing an additional 252 shares during the last quarter. RMR Wealth Builders lifted its holdings in shares of Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after purchasing an additional 388 shares during the last quarter. Czech National Bank lifted its holdings in shares of Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after purchasing an additional 22,774 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Broadcom in the 2nd quarter valued at about $4,684,000. Finally, Aspen Grove Capital LLC lifted its holdings in shares of Broadcom by 3.5% in the 2nd quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock valued at $1,289,000 after purchasing an additional 50 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 1.8 %

NASDAQ:AVGO opened at $1,363.21 on Thursday. The firm has a market capitalization of $631.74 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The stock has a 50 day moving average of $1,284.79 and a 200-day moving average of $1,080.21. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the company earned $9.83 earnings per share. Analysts predict that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,310 shares of company stock valued at $29,405,117. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. UBS Group boosted their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Summit Insights raised Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Finally, Truist Financial upped their price objective on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

Check Out Our Latest Stock Report on AVGO

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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