Community Bank & Trust Waco Texas Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Community Bank & Trust Waco Texas increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,724 shares of the semiconductor manufacturer’s stock after acquiring an additional 594 shares during the period. Community Bank & Trust Waco Texas’ holdings in Broadcom were worth $3,041,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVGO. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth $29,000. CKW Financial Group bought a new position in shares of Broadcom during the 4th quarter valued at about $30,000. Macroview Investment Management LLC acquired a new position in Broadcom in the third quarter worth approximately $29,000. Finally, PrairieView Partners LLC grew its holdings in shares of Broadcom by 178.6% in the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded up $6.05 during midday trading on Wednesday, reaching $1,255.24. 749,588 shares of the stock were exchanged, compared to its average volume of 2,924,314. The company’s fifty day moving average is $1,304.25 and its 200-day moving average is $1,128.64. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a market cap of $581.70 billion, a PE ratio of 46.86, a PEG ratio of 2.50 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted $9.83 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.67%. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald upped their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Susquehanna raised their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. Insiders own 2.00% of the company’s stock.

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.