Community Trust & Investment Co. Has $58.70 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Community Trust & Investment Co. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 253,195 shares of the semiconductor manufacturer’s stock after buying an additional 194 shares during the quarter. Broadcom accounts for about 3.6% of Community Trust & Investment Co.’s holdings, making the stock its 7th biggest position. Community Trust & Investment Co.’s holdings in Broadcom were worth $58,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Floyd Financial Group LLC bought a new stake in Broadcom during the 4th quarter worth approximately $1,967,000. Pines Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $4,854,000. Accurate Wealth Management LLC grew its stake in shares of Broadcom by 6.8% in the fourth quarter. Accurate Wealth Management LLC now owns 18,743 shares of the semiconductor manufacturer’s stock worth $4,206,000 after purchasing an additional 1,194 shares during the last quarter. Sovereign Financial Group Inc. increased its holdings in Broadcom by 15.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 5,924 shares of the semiconductor manufacturer’s stock valued at $1,373,000 after purchasing an additional 778 shares during the period. Finally, Capstone Wealth Management Group LLC lifted its holdings in Broadcom by 5.6% during the 4th quarter. Capstone Wealth Management Group LLC now owns 38,422 shares of the semiconductor manufacturer’s stock worth $8,908,000 after buying an additional 2,030 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $228.00 on Thursday. The company has a market capitalization of $1.07 trillion, a PE ratio of 198.09, a PEG ratio of 2.15 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock’s 50 day moving average price is $199.05 and its 200-day moving average price is $176.63. Broadcom Inc. has a twelve month low of $109.02 and a twelve month high of $251.88.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.04%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Insider Activity

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 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.