Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Capital City Trust Co. FL

Capital City Trust Co. FL grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 890.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,646 shares of the semiconductor manufacturer’s stock after purchasing an additional 86,889 shares during the quarter. Broadcom comprises about 4.1% of Capital City Trust Co. FL’s portfolio, making the stock its 4th biggest position. Capital City Trust Co. FL’s holdings in Broadcom were worth $16,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB raised its position in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Swiss National Bank increased its position in shares of Broadcom by 907.0% during the third quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock worth $2,264,223,000 after acquiring an additional 11,822,467 shares in the last quarter. Van ECK Associates Corp lifted its position in Broadcom by 917.8% in the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock valued at $2,203,837,000 after acquiring an additional 11,453,554 shares in the last quarter. Raymond James & Associates increased its holdings in Broadcom by 855.4% during the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Broadcom by 908.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,374,079 shares of the semiconductor manufacturer’s stock worth $1,962,029,000 after purchasing an additional 10,245,786 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $163.25 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The business’s 50 day simple moving average is $173.78 and its two-hundred day simple moving average is $160.09. The stock has a market capitalization of $762.47 billion, a P/E ratio of 141.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. Analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.30%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.35%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVGO shares. Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

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.