Community Bank N.A. Sells 1,955 Shares of Broadcom Inc. (NASDAQ:AVGO)

Community Bank N.A. trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 49,418 shares of the semiconductor manufacturer's stock after selling 1,955 shares during the quarter. Broadcom comprises about 1.5% of Community Bank N.A.'s portfolio, making the stock its 10th biggest holding. Community Bank N.A.'s holdings in Broadcom were worth $11,457,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. State Street Corp boosted its holdings in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its stake in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after buying an additional 89,975,941 shares in the last quarter. FMR LLC grew its position in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC raised its stake in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

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Broadcom Stock Down 1.2 %

NASDAQ:AVGO traded down $2.29 on Tuesday, reaching $188.96. 7,331,912 shares of the stock traded hands, compared to its average volume of 28,950,584. The company has a market capitalization of $888.48 billion, a price-to-earnings ratio of 154.13, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company's fifty day simple moving average is $213.70 and its 200 day simple moving average is $195.64. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Robert W. Baird lifted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Morgan Stanley upped their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $231.48.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock worth $21,494,560 over the last quarter. Insiders own 2.00% of the company's stock.

Broadcom 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.