Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by Missouri Trust & Investment Co

Missouri Trust & Investment Co lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 894.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,660 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,292 shares during the quarter. Missouri Trust & Investment Co’s holdings in Broadcom were worth $631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Asset Management Ltd. raised its position in shares of Broadcom by 34.9% during the 1st quarter. Jupiter Asset Management Ltd. now owns 10,129 shares of the semiconductor manufacturer’s stock worth $13,425,000 after buying an additional 2,622 shares in the last quarter. Allstate Corp lifted its position in Broadcom by 1.0% in the first quarter. Allstate Corp now owns 1,407 shares of the semiconductor manufacturer’s stock worth $1,865,000 after purchasing an additional 14 shares during the period. Strait & Sound Wealth Management LLC boosted its stake in Broadcom by 7.2% during the 1st quarter. Strait & Sound Wealth Management LLC now owns 638 shares of the semiconductor manufacturer’s stock valued at $882,000 after purchasing an additional 43 shares in the last quarter. Catalytic Wealth RIA LLC acquired a new position in shares of Broadcom during the 1st quarter valued at $922,000. Finally, NWK Group Inc. increased its position in shares of Broadcom by 2.8% during the 1st quarter. NWK Group Inc. now owns 7,813 shares of the semiconductor manufacturer’s stock valued at $10,355,000 after purchasing an additional 215 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Mizuho lifted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial raised their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction 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 sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 3.3 %

Broadcom stock opened at $164.84 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a fifty day moving average price of $172.29 and a two-hundred day moving average price of $159.14. The firm has a market cap of $769.90 billion, a price-to-earnings ratio of 143.34, a P/E/G ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the company earned $0.95 EPS. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 184.35%.

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.