Community Bank N.A. Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Community Bank N.A. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 837.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,373 shares of the semiconductor manufacturer's stock after buying an additional 45,890 shares during the quarter. Broadcom comprises about 1.1% of Community Bank N.A.'s holdings, making the stock its 20th largest position. Community Bank N.A.'s holdings in Broadcom were worth $8,862,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 135 shares in the last quarter. Tsfg LLC boosted its position in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares during the period. Cedar Wealth Management LLC increased its holdings in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 216 shares during the period. Finally, Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter worth $42,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. The Goldman Sachs Group increased their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Benchmark reissued a "buy" rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Finally, Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $195.96.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated 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 approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This 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 owned by insiders.

Broadcom Stock Up 2.7 %

AVGO traded up $4.43 during trading on Monday, reaching $166.51. The stock had a trading volume of 21,447,846 shares, compared to its average volume of 29,074,881. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock's 50 day moving average is $173.39 and its two-hundred day moving average is $161.69. The company has a market capitalization of $777.70 billion, a price-to-earnings ratio of 144.79, a P/E/G ratio of 1.91 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. As a group, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current 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 paid a $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.27%. Broadcom's payout ratio 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.