Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Missouri Trust & Investment Co

Missouri Trust & Investment Co boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 894.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,660 shares of the semiconductor manufacturer's stock after buying an additional 3,292 shares during the period. Missouri Trust & Investment Co's holdings in Broadcom were worth $631,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AVGO. Delta Asset Management LLC TN lifted its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 17 shares during the period. Clear Point Advisors Inc. boosted its position in shares of Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after purchasing an additional 31 shares in the last quarter. Indiana Trust & Investment Management CO grew its stake in shares of Broadcom by 39.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock worth $85,000 after purchasing an additional 15 shares during the period. Creekmur Asset Management LLC increased its holdings in shares of Broadcom by 89.7% in the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock valued at $98,000 after purchasing an additional 35 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Broadcom in the second quarter valued at about $128,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AVGO shares. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, Morgan Stanley raised their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 3.3 %

NASDAQ AVGO traded down $5.54 during trading hours on Friday, hitting $164.84. The company had a trading volume of 20,836,160 shares, compared to its average volume of 29,525,910. The firm's 50 day moving average is $172.84 and its 200 day moving average is $159.35. 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 fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a market capitalization of $769.90 billion, a price-to-earnings ratio of 143.34, a P/E/G ratio of 2.04 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Sell-side analysts anticipate 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 issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

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.