Hilltop National Bank Has $3.46 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Hilltop National Bank reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,910 shares of the semiconductor manufacturer’s stock after selling 701 shares during the period. Broadcom makes up about 1.0% of Hilltop National Bank’s portfolio, making the stock its 17th biggest holding. Hilltop National Bank’s holdings in Broadcom were worth $3,457,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Broadcom in the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $136,000. WPWealth LLP bought a new stake in shares of Broadcom during the 2nd quarter valued at $204,000. AIMZ Investment Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth $207,000. Finally, Inspire Advisors LLC bought a new position in shares of Broadcom in the second quarter worth $211,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 2.7 %

Shares of Broadcom stock traded down $6.24 during midday trading on Friday, reaching $223.07. The company had a trading volume of 9,776,916 shares, compared to its average volume of 24,074,230. The firm has a market cap of $1.05 trillion, a PE ratio of 193.81, a P/E/G ratio of 2.15 and a beta of 1.03. The stock has a fifty day moving average price of $195.79 and a 200 day moving average price of $175.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a fifty-two week low of $107.45 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.06%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Activity

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,278 shares of company stock valued at $44,046,240 in the last ninety days. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Barclays increased their price objective on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.88.

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.