Community Bank N.A. Cuts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Community Bank N.A. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,877 shares of the semiconductor manufacturer’s stock after selling 253 shares during the period. Broadcom accounts for about 0.9% of Community Bank N.A.’s holdings, making the stock its 25th largest holding. Community Bank N.A.’s holdings in Broadcom were worth $6,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisors LLC lifted its position in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after acquiring an additional 93 shares in the last quarter. RMR Wealth Builders lifted its position in Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after acquiring an additional 388 shares in the last quarter. Czech National Bank lifted its position in Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after acquiring an additional 22,774 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its position in Broadcom by 66.6% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after acquiring an additional 1,704 shares in the last quarter. Finally, CI Investments Inc. lifted its position in Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after acquiring an additional 64,912 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI started coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $7.63 during midday trading on Wednesday, hitting $1,256.82. The company had a trading volume of 2,007,720 shares, compared to its average volume of 2,940,795. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a market cap of $582.44 billion, a price-to-earnings ratio of 46.58, a PEG ratio of 2.50 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a fifty day moving average of $1,304.15 and a two-hundred day moving average of $1,129.53.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the business posted $9.83 EPS. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction 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 SEC, which is available at the SEC website. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.