Broadcom Inc. $AVGO Stock Holdings Lessened by Country Club Bank

Country Club Bank reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,508 shares of the semiconductor manufacturer’s stock after selling 3,249 shares during the quarter. Broadcom makes up approximately 1.2% of Country Club Bank’s portfolio, making the stock its 16th largest position. Country Club Bank’s holdings in Broadcom were worth $19,513,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. State Street Corp boosted its position in Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after purchasing an additional 873,963 shares during the last quarter. Geode Capital Management LLC grew its stake in Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after purchasing an additional 2,226,585 shares in the last quarter. Norges Bank acquired a new position in Broadcom in the 2nd quarter worth about $18,579,549,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $329.88 on Friday. The company has a market capitalization of $1.56 trillion, a PE ratio of 69.30, a price-to-earnings-growth ratio of 1.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company’s fifty day moving average price is $362.66 and its 200 day moving average price is $320.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period last year, the business posted $1.42 earnings per share. The firm’s revenue was up 28.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. Broadcom’s dividend payout ratio is presently 49.58%.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $361.89, for a total value of $289,512.00. Following the completion of the sale, the director directly owned 20,582 shares of the company’s stock, valued at $7,448,419.98. This represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 320,316 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 825,296 shares of company stock valued at $299,151,975 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AVGO shares. Mizuho boosted their price target on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. The Goldman Sachs Group set a $435.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Bank of America raised their price target on shares of Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler reiterated an “overweight” rating and issued a $430.00 price objective (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Finally, TD Cowen raised their target price on Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a report on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $435.96.

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.