Community Bank & Trust Waco Texas Has $3.04 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Community Bank & Trust Waco Texas increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,724 shares of the semiconductor manufacturer’s stock after buying an additional 594 shares during the period. Community Bank & Trust Waco Texas’ holdings in Broadcom were worth $3,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. PSI Advisors LLC grew its holdings in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $29,000. CKW Financial Group bought a new stake in shares of Broadcom in the 4th quarter valued at $30,000. Macroview Investment Management LLC acquired a new stake in Broadcom during the 3rd quarter worth $29,000. Finally, PrairieView Partners LLC lifted its holdings in Broadcom by 178.6% during the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 25 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded up $6.05 during midday trading on Wednesday, hitting $1,255.24. The company’s stock had a trading volume of 749,588 shares, compared to its average volume of 2,924,314. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a market capitalization of $581.70 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25. The company’s fifty day simple moving average is $1,304.25 and its two-hundred day simple moving average is $1,128.64.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Barclays lifted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.