Trust Co. of Oklahoma Acquires 313 Shares of Broadcom Inc. (NASDAQ:AVGO)

Trust Co. of Oklahoma increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,413 shares of the semiconductor manufacturer’s stock after acquiring an additional 313 shares during the quarter. Broadcom comprises about 0.8% of Trust Co. of Oklahoma’s investment portfolio, making the stock its 29th largest holding. Trust Co. of Oklahoma’s holdings in Broadcom were worth $2,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Market Street Wealth Management Advisors LLC acquired a new position in Broadcom in the 4th quarter valued at $204,000. Beacon Investment Advisory Services Inc. raised its stake in Broadcom by 0.9% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 107,502 shares of the semiconductor manufacturer’s stock valued at $24,923,000 after purchasing an additional 942 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in Broadcom during the fourth quarter worth about $95,000. Burr Financial Services LLC acquired a new stake in Broadcom during the fourth quarter worth about $5,573,000. Finally, MinichMacGregor Wealth Management LLC increased its holdings in Broadcom by 37.2% in the 4th quarter. MinichMacGregor Wealth Management LLC now owns 1,635 shares of the semiconductor manufacturer’s stock valued at $379,000 after buying an additional 443 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Performance

NASDAQ:AVGO opened at $244.70 on Friday. 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 Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a 50 day simple moving average of $208.80 and a two-hundred day simple moving average of $180.62. The company has a market capitalization of $1.15 trillion, a PE ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during 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%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. Broadcom’s dividend payout ratio is presently 192.50%.

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.