Arvest Bank Trust Division Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Arvest Bank Trust Division acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,608 shares of the semiconductor manufacturer’s stock, valued at approximately $277,000.

Other hedge funds have also recently modified their holdings of the company. Sfmg LLC increased its holdings in Broadcom by 1,221.1% in the 3rd quarter. Sfmg LLC now owns 15,695 shares of the semiconductor manufacturer’s stock worth $2,707,000 after acquiring an additional 14,507 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Broadcom by 5,915.6% in the third quarter. World Investment Advisors LLC now owns 131,500 shares of the semiconductor manufacturer’s stock worth $22,684,000 after purchasing an additional 129,314 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Broadcom by 990.8% in the third quarter. Sanctuary Advisors LLC now owns 838,926 shares of the semiconductor manufacturer’s stock worth $137,777,000 after purchasing an additional 762,020 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Broadcom by 82.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,341 shares of the semiconductor manufacturer’s stock valued at $1,094,000 after purchasing an additional 2,859 shares during the period. Finally, Stock Yards Bank & Trust Co. lifted its stake in shares of Broadcom by 887.8% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 294,713 shares of the semiconductor manufacturer’s stock valued at $50,838,000 after buying an additional 264,879 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AVGO shares. Morgan Stanley increased their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Mizuho upped their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.09.

Broadcom Trading Down 1.4 %

AVGO stock opened at $180.66 on Friday. Broadcom Inc. has a twelve month low of $104.15 and a twelve month high of $186.42. The stock has a market capitalization of $843.79 billion, a price-to-earnings ratio of 157.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s fifty day simple moving average is $173.65 and its two-hundred day simple moving average is $163.86.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.31%. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. 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 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by company insiders.

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.