First National Trust Co Increases Position in Broadcom Inc. (NASDAQ:AVGO)

First National Trust Co increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 914.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 221,116 shares of the semiconductor manufacturer's stock after buying an additional 199,311 shares during the quarter. Broadcom accounts for approximately 1.5% of First National Trust Co's holdings, making the stock its 13th largest holding. First National Trust Co's holdings in Broadcom were worth $38,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Delta Asset Management LLC TN raised its position in 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 last quarter. Clear Point Advisors Inc. boosted its holdings in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after purchasing an additional 31 shares during the last quarter. Indiana Trust & Investment Management CO grew its position in Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after purchasing an additional 15 shares in the last quarter. Creekmur Asset Management LLC increased its stake in 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 buying an additional 35 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. bought a new stake in Broadcom during the 2nd quarter worth about $128,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVGO shares. StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Finally, UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Down 3.3 %

Shares of NASDAQ AVGO traded down $5.54 during midday trading on Friday, hitting $164.84. 20,819,361 shares of the stock traded hands, compared to its average volume of 29,525,910. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The business has a 50 day moving average price of $172.29 and a two-hundred day moving average price of $159.14. The company has a market cap of $769.90 billion, a PE ratio of 144.87, a P/E/G ratio of 2.04 and a beta of 1.17.

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

Broadcom Increases Dividend

The firm 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is presently 184.35%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 over the last three months. 2.00% of the stock is currently owned by insiders.

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.