First National Trust Co Decreases Holdings in Broadcom Inc. (NASDAQ:AVGO)

First National Trust Co decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,548 shares of the semiconductor manufacturer’s stock after selling 796 shares during the period. First National Trust Co’s holdings in Broadcom were worth $15,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom during the fourth quarter valued at $25,000. PSI Advisors LLC grew its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the period. BKM Wealth Management LLC purchased a new position in Broadcom during the fourth quarter valued at $29,000. CKW Financial Group purchased a new position in Broadcom during the fourth quarter valued at $30,000. Finally, Bfsg LLC purchased a new position in Broadcom during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 3.2 %

AVGO stock traded up $39.54 during trading on Friday, reaching $1,278.11. 2,489,755 shares of the stock were exchanged, compared to its average volume of 2,435,058. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $1,308.66 and a 200-day moving average price of $1,147.78. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The firm has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the business earned $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVGO shares. Barclays increased their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. UBS Group increased their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last three months. 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.