First National Bank of Mount Dora Trust Investment Services Sells 286 Shares of Broadcom Inc. (NASDAQ:AVGO)

First National Bank of Mount Dora Trust Investment Services reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,557 shares of the semiconductor manufacturer’s stock after selling 286 shares during the period. Broadcom accounts for about 3.7% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 4th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Broadcom were worth $15,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Chemistry Wealth Management LLC lifted its holdings in Broadcom by 20.1% in the fourth quarter. Chemistry Wealth Management LLC now owns 2,435 shares of the semiconductor manufacturer’s stock valued at $565,000 after acquiring an additional 408 shares during the last quarter. Boston Common Asset Management LLC lifted its stake in Broadcom by 9.4% during the fourth quarter. Boston Common Asset Management LLC now owns 186,248 shares of the semiconductor manufacturer’s stock worth $43,180,000 after purchasing an additional 15,980 shares in the last quarter. Relyea Zuckerberg Hanson LLC lifted its stake in Broadcom by 13.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 13,277 shares of the semiconductor manufacturer’s stock worth $3,078,000 after purchasing an additional 1,588 shares in the last quarter. CNB Bank lifted its stake in Broadcom by 11.3% during the fourth quarter. CNB Bank now owns 15,273 shares of the semiconductor manufacturer’s stock worth $3,541,000 after purchasing an additional 1,546 shares in the last quarter. Finally, Saxon Interests Inc. lifted its stake in Broadcom by 6.3% during the fourth quarter. Saxon Interests Inc. now owns 14,502 shares of the semiconductor manufacturer’s stock worth $3,362,000 after purchasing an additional 855 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $237.44 on Friday. Broadcom Inc. has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The firm has a 50-day simple moving average of $202.01 and a 200-day simple moving average of $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Truist Financial upped their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.83.

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.