Capital City Trust Co. FL Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Capital City Trust Co. FL grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 890.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,646 shares of the semiconductor manufacturer's stock after acquiring an additional 86,889 shares during the quarter. Broadcom comprises 4.1% of Capital City Trust Co. FL's investment portfolio, making the stock its 4th largest position. Capital City Trust Co. FL's holdings in Broadcom were worth $16,671,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Western Trust Bank raised its holdings in shares of Broadcom by 902.2% during the 3rd quarter. First Western Trust Bank now owns 3,227 shares of the semiconductor manufacturer's stock valued at $557,000 after buying an additional 2,905 shares in the last quarter. Strengthening Families & Communities LLC raised its holdings in shares of Broadcom by 1,028.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 22,467 shares of the semiconductor manufacturer's stock valued at $3,875,000 after buying an additional 20,476 shares in the last quarter. Holistic Financial Partners raised its holdings in shares of Broadcom by 939.2% during the 3rd quarter. Holistic Financial Partners now owns 7,295 shares of the semiconductor manufacturer's stock valued at $1,258,000 after buying an additional 6,593 shares in the last quarter. Aviso Wealth Management raised its holdings in shares of Broadcom by 873.3% during the 3rd quarter. Aviso Wealth Management now owns 12,633 shares of the semiconductor manufacturer's stock valued at $2,179,000 after buying an additional 11,335 shares in the last quarter. Finally, LMR Partners LLP raised its holdings in shares of Broadcom by 2,208.0% during the 3rd quarter. LMR Partners LLP now owns 449,557 shares of the semiconductor manufacturer's stock valued at $77,549,000 after buying an additional 430,079 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 1.3 %

NASDAQ AVGO opened at $163.25 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The firm has a market capitalization of $762.47 billion, a PE ratio of 141.96, a P/E/G ratio of 1.94 and a beta of 1.17. The stock's 50 day moving average is $173.78 and its 200 day moving average is $160.09.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The firm's revenue was up 47.3% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. Broadcom's payout ratio is currently 184.35%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Finally, Rosenblatt Securities decreased their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $192.79.

About Broadcom

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.