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

First Hawaiian Bank trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 13.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,436 shares of the semiconductor manufacturer’s stock after selling 5,539 shares during the quarter. First Hawaiian Bank’s holdings in Broadcom were worth $7,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Client Services LLC increased its stake in Broadcom by 2.1% in the 4th quarter. Private Client Services LLC now owns 3,269 shares of the semiconductor manufacturer’s stock worth $758,000 after purchasing an additional 67 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Broadcom by 9.7% in the fourth quarter. Fulton Bank N.A. now owns 96,602 shares of the semiconductor manufacturer’s stock worth $22,396,000 after buying an additional 8,545 shares during the period. Collective Family Office LLC increased its position in shares of Broadcom by 3.4% in the fourth quarter. Collective Family Office LLC now owns 3,010 shares of the semiconductor manufacturer’s stock worth $698,000 after acquiring an additional 100 shares in the last quarter. Park National Corp OH raised its holdings in shares of Broadcom by 8.9% during the fourth quarter. Park National Corp OH now owns 11,912 shares of the semiconductor manufacturer’s stock valued at $2,762,000 after acquiring an additional 974 shares during the period. Finally, Weaver Consulting Group lifted its position in shares of Broadcom by 3.0% in the 4th quarter. Weaver Consulting Group now owns 2,847 shares of the semiconductor manufacturer’s stock valued at $660,000 after acquiring an additional 84 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,228 shares of company stock valued at $35,643,408 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVGO. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $221.88.

Broadcom Stock Performance

Shares of Broadcom stock traded up $0.67 during midday trading on Wednesday, hitting $229.31. The company had a trading volume of 18,430,239 shares, compared to its average volume of 26,920,354. Broadcom Inc. has a 1-year low of $106.26 and a 1-year high of $251.88. The business’s 50 day simple moving average is $193.55 and its two-hundred day simple moving average is $174.58. The stock has a market cap of $1.07 trillion, a PE ratio of 199.23, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued 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 1.03%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.