Trust Co of the South Has $669,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Trust Co of the South grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,880 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,492 shares during the quarter. Trust Co of the South’s holdings in Broadcom were worth $669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AVGO. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares during the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom during the 1st quarter valued at $29,000. Delta Asset Management LLC TN boosted its holdings in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Broadcom in the 1st quarter worth $36,000. Finally, Creekmur Asset Management LLC bought a new position in shares of Broadcom during the 4th quarter worth about $43,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $170.66 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market cap of $794.40 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a twelve month low of $80.89 and a twelve month high of $185.16. The business has a fifty day moving average of $158.69 and a 200-day moving average of $149.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The disclosure for this sale can be found here. Insiders sold a total of 233,452 shares of company stock worth $51,278,838 in the last quarter. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Citigroup reissued a “buy” rating and set a $156.00 target price on shares of Broadcom in a research report on Tuesday, June 11th. Piper Sandler upped their target price on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Bank of America reaffirmed a “buy” rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company lifted their target price on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $189.23.

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.