First International Bank & Trust Has $326,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

First International Bank & Trust reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,407 shares of the semiconductor manufacturer’s stock after selling 413 shares during the quarter. First International Bank & Trust’s holdings in Broadcom were worth $326,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Tsfg LLC boosted its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC grew its position in Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on AVGO. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays raised their target price on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Finally, Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $221.88.

Broadcom Stock Performance

NASDAQ AVGO opened at $229.31 on Friday. The company has a market cap of $1.07 trillion, a P/E ratio of 199.23, a PEG ratio of 2.15 and a beta of 1.03. The company has a fifty day simple moving average of $195.79 and a 200 day simple moving average of $175.31. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $106.26 and a 12-month high of $251.88.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following 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 a total of 187,278 shares of company stock valued at $44,046,240 in the last ninety days. 2.00% of the stock is currently owned by insiders.

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.