VeraBank N.A. Buys 49 Shares of Broadcom Inc. (NASDAQ:AVGO)

VeraBank N.A. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 511 shares of the semiconductor manufacturer’s stock after acquiring an additional 49 shares during the quarter. VeraBank N.A.’s holdings in Broadcom were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp raised its stake in Broadcom by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after acquiring an additional 93,615 shares during the period. Wellington Management Group LLP increased its stake in shares of Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares in the last quarter. FMR LLC raised its position in shares of Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after purchasing an additional 573,826 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Broadcom by 19.1% in the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 3,000 shares of Broadcom stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the sale, the chief financial officer now owns 43,459 shares of the company’s stock, valued at approximately $58,371,521.26. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Susquehanna boosted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Barclays increased their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 3.2 %

Shares of AVGO stock traded up $39.54 during midday trading on Friday, reaching $1,278.11. 2,489,755 shares of the stock were exchanged, compared to its average volume of 2,435,058. The firm has a market cap of $592.30 billion, a PE ratio of 47.37, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $1,308.66 and its two-hundred day moving average is $1,147.78. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the company posted $9.83 EPS. Broadcom’s revenue was up 34.2% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s payout ratio is 77.84%.

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.