Canandaigua National Bank & Trust Co. Sells 50 Shares of Broadcom Inc. (NASDAQ:AVGO)

Canandaigua National Bank & Trust Co. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,520 shares of the semiconductor manufacturer’s stock after selling 50 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Broadcom were worth $1,512,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Broadcom during the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in Broadcom during the second quarter worth $136,000. WPWealth LLP bought a new position in shares of Broadcom during the second quarter valued at $204,000. Harrington Investments INC acquired a new stake in shares of Broadcom in the 2nd quarter valued at $207,000. Finally, AIMZ Investment Advisors LLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 1.7 %

AVGO opened at $236.41 on Tuesday. Broadcom Inc. has a twelve month low of $105.20 and a twelve month high of $251.88. The firm has a market cap of $1.11 trillion, a PE ratio of 205.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s fifty day moving average is $192.56 and its two-hundred day moving average is $174.24.

Broadcom (NASDAQ:AVGO) last posted 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 return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVGO shares. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. William Blair began coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.88.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,128 shares of company stock worth $39,099,840. Company 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.