Cetera Trust Company N.A Acquires Shares of 1,536 Broadcom Inc. (NASDAQ:AVGO)

Cetera Trust Company N.A bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,536 shares of the semiconductor manufacturer’s stock, valued at approximately $1,715,000.

Several other large investors have also recently modified their holdings of AVGO. BetterWealth LLC boosted its position in Broadcom by 1.5% in the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after buying an additional 9 shares during the period. Rise Advisors LLC increased its holdings in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the period. CX Institutional raised its position in Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares in the last quarter. Cascade Investment Group Inc. boosted its stake in shares of Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after buying an additional 10 shares during the period. Finally, Sabal Trust CO grew its position in shares of Broadcom by 1.6% during the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock worth $714,000 after buying an additional 10 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $54.28 during trading hours on Friday, hitting $1,204.71. 4,479,658 shares of the stock were exchanged, compared to its average volume of 2,254,590. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The stock has a 50-day moving average of $1,305.11 and a 200 day moving average of $1,120.88. The company has a market cap of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the business posted $9.83 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.74%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Evercore ISI initiated coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity

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

Broadcom Company 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.