Intrust Bank NA Acquires 100 Shares of Broadcom Inc. (NASDAQ:AVGO)

Intrust Bank NA grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,933 shares of the semiconductor manufacturer’s stock after purchasing an additional 100 shares during the period. Broadcom comprises approximately 1.4% of Intrust Bank NA’s holdings, making the stock its 16th largest holding. Intrust Bank NA’s holdings in Broadcom were worth $13,663,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Hobbs Group Advisors LLC raised its position in Broadcom by 35.0% during the 4th quarter. Hobbs Group Advisors LLC now owns 906 shares of the semiconductor manufacturer’s stock valued at $210,000 after purchasing an additional 235 shares in the last quarter. Allstate Corp increased its stake in shares of Broadcom by 3,333.3% during the fourth quarter. Allstate Corp now owns 131,667 shares of the semiconductor manufacturer’s stock valued at $30,526,000 after buying an additional 127,832 shares during the period. Maridea Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter worth about $316,000. Brown Brothers Harriman & Co. grew its holdings in Broadcom by 12.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 68,033 shares of the semiconductor manufacturer’s stock worth $15,773,000 after acquiring an additional 7,774 shares in the last quarter. Finally, RiverFront Investment Group LLC increased its position in Broadcom by 56.2% during the 4th quarter. RiverFront Investment Group LLC now owns 5,214 shares of the semiconductor manufacturer’s stock valued at $1,209,000 after purchasing an additional 1,877 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock valued at $147,912,102 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $169.12 on Friday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average of $209.48 and a 200 day moving average of $195.91.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Citigroup upped their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.48.

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.