Broadcom Inc. (NASDAQ:AVGO) Shares Sold by First Western Trust Bank

First Western Trust Bank decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317 shares of the semiconductor manufacturer’s stock after selling 14 shares during the quarter. First Western Trust Bank’s holdings in Broadcom were worth $354,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $25,000. PSI Advisors LLC increased its position in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in Broadcom in the fourth quarter valued at $29,000. CKW Financial Group acquired a new position in shares of Broadcom during the fourth quarter valued at $30,000. Finally, Bfsg LLC bought a new position in shares of Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 1.5 %

Shares of NASDAQ:AVGO traded down $19.70 on Thursday, reaching $1,305.67. The company had a trading volume of 1,216,615 shares, compared to its average volume of 2,837,125. The stock has a market capitalization of $605.07 billion, a P/E ratio of 48.39, a P/E/G ratio of 2.60 and a beta of 1.25. The stock has a 50-day moving average price of $1,309.54 and a 200 day moving average price of $1,158.92. Broadcom Inc. has a twelve month low of $617.99 and a twelve month high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.61%. Broadcom’s dividend payout ratio is 77.84%.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on 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 sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of 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. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Barclays raised their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Cantor Fitzgerald increased their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

About Broadcom

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.