Broadcom Inc. (NASDAQ:AVGO) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 31,192 shares of the semiconductor manufacturer’s stock after selling 480 shares during the period. Broadcom accounts for approximately 1.4% of FineMark National Bank & Trust’s holdings, making the stock its 10th largest position. FineMark National Bank & Trust’s holdings in Broadcom were worth $34,818,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisors LLC grew its stake in shares of Broadcom by 11.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after buying an additional 93 shares during the last quarter. Todd Asset Management LLC boosted its position in Broadcom by 26.3% during the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after acquiring an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Barry Investment Advisors LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $228,000. Finally, Stegent Equity Advisors Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at about $271,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of Broadcom stock traded down $5.98 on Thursday, reaching $1,386.26. 2,175,825 shares of the company traded hands, compared to its average volume of 2,771,362. Broadcom Inc. has a 52 week low of $676.06 and a 52 week high of $1,445.40. The company has a 50 day moving average of $1,318.57 and a 200 day moving average of $1,195.69. The firm has a market capitalization of $642.42 billion, a PE ratio of 51.50, a PEG ratio of 2.79 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the firm earned $9.83 EPS. Equities analysts forecast that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.51%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Susquehanna upped their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,296.91.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company 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.