Kentucky Trust Co Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Kentucky Trust Co purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel reports. The firm purchased 713 shares of the semiconductor manufacturer’s stock, valued at approximately $165,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Castleview Partners LLC grew its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. JDM Financial Group LLC increased its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $37,000. Finally, R Squared Ltd purchased a new position in shares of Broadcom in the fourth quarter valued at approximately $39,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 1.2 %

NASDAQ:AVGO opened at $233.04 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock’s 50 day moving average price is $225.09 and its 200 day moving average price is $186.45. The company has a market capitalization of $1.09 trillion, a PE ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lowered their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.