First Financial Bankshares Inc Has $166.12 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

First Financial Bankshares Inc decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 13.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 716,522 shares of the semiconductor manufacturer’s stock after selling 116,145 shares during the quarter. Broadcom makes up 3.6% of First Financial Bankshares Inc’s portfolio, making the stock its 6th biggest position. First Financial Bankshares Inc’s holdings in Broadcom were worth $166,118,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at $26,000. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at $33,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock valued at $43,395,200 in the last quarter. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America raised their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Truist Financial raised their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

NASDAQ:AVGO opened at $188.67 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock’s 50 day simple moving average is $216.48 and its two-hundred day simple moving average is $194.61. The company has a market cap of $887.12 billion, a price-to-earnings ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

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.