Country Club Bank Sells 1,671 Shares of Broadcom Inc. (NASDAQ:AVGO)

Country Club Bank cut its position in Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 91,095 shares of the semiconductor manufacturer’s stock after selling 1,671 shares during the period. Broadcom makes up about 1.4% of Country Club Bank’s holdings, making the stock its 14th largest holding. Country Club Bank’s holdings in Broadcom were worth $21,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its position in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC boosted its holdings in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the period. Catalyst Financial Partners LLC grew its stake in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after buying an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors raised its holdings in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after acquiring an additional 4,209 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $224.87 on Friday. The company has a 50-day simple moving average of $218.50 and a two-hundred day simple moving average of $183.74. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 183.42, a PEG ratio of 2.31 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Mizuho raised their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial upped their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom 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.