Arlington Trust Co LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Arlington Trust Co LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,607 shares of the semiconductor manufacturer’s stock after buying an additional 127 shares during the period. Broadcom comprises about 0.8% of Arlington Trust Co LLC’s portfolio, making the stock its 18th largest holding. Arlington Trust Co LLC’s holdings in Broadcom were worth $3,618,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AVGO. Central Pacific Bank Trust Division increased its stake in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $244,000. Strait & Sound Wealth Management LLC increased its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of 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 purchasing an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors increased its stake in shares of Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Citigroup lifted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Shares of AVGO stock opened at $235.80 on Friday. 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 firm has a fifty day moving average price of $223.78 and a 200 day moving average price of $186.10. The company has a market cap of $1.11 trillion, a P/E ratio of 192.33, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Sell-side analysts predict 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. Investors 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 yield of 1.00%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction 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 trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.