Independence Bank of Kentucky raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 9.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,050 shares of the semiconductor manufacturer’s stock after buying an additional 1,360 shares during the period. Independence Bank of Kentucky’s holdings in Broadcom were worth $3,489,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in AVGO. Central Pacific Bank Trust Division grew its stake in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares in the last quarter. Wolff Financial Management LLC bought a new position in Broadcom during the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC boosted its position in Broadcom by 829.8% during the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC boosted its position in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Motive Wealth Advisors boosted its position in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares during the period. 76.43% of the stock is owned by institutional investors.
Insider Transactions at Broadcom
In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % 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. Insiders own 2.00% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on Broadcom
Broadcom Stock Down 1.6 %
Shares of NASDAQ AVGO opened at $217.73 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.03. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a 50-day moving average price of $213.41 and a two-hundred day moving average price of $182.20.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 191.87%.
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.
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