Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by First Western Trust Bank

First Western Trust Bank boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 15.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,784 shares of the semiconductor manufacturer’s stock after acquiring an additional 494 shares during the quarter. First Western Trust Bank’s holdings in Broadcom were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,224,641 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.4%

Shares of NASDAQ:AVGO opened at $304.97 on Friday. The company has a 50 day moving average of $272.87 and a 200-day moving average of $226.82. The firm has a market cap of $1.43 trillion, a P/E ratio of 114.22, a P/E/G ratio of 2.16 and a beta of 1.15. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $310.34. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $10.96 EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio is 88.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Friday, June 6th. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, June 6th. Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $294.92.

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.