Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Oakworth Capital Inc.

Oakworth Capital Inc. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,176 shares of the semiconductor manufacturer’s stock after acquiring an additional 70 shares during the quarter. Oakworth Capital Inc.’s holdings in Broadcom were worth $1,313,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BetterWealth LLC boosted its holdings in shares of Broadcom by 1.5% in the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after acquiring an additional 9 shares in the last quarter. Rise Advisors LLC boosted its holdings in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares in the last quarter. CX Institutional boosted its holdings in shares of Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares in the last quarter. Cascade Investment Group Inc. boosted its holdings in shares of Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after acquiring an additional 10 shares in the last quarter. Finally, Sabal Trust CO boosted its holdings in shares of Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after acquiring an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent analyst reports. Evercore ISI began coverage on shares of Broadcom in a report on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective for the company. Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated 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 transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $43.56 during midday trading on Wednesday, reaching $1,285.50. The stock had a trading volume of 1,419,192 shares, compared to its average volume of 2,939,318. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm’s fifty day simple moving average is $1,306.49 and its 200-day simple moving average is $1,114.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $595.73 billion, a P/E ratio of 47.95, a PEG ratio of 2.67 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the firm earned $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Broadcom Company 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.