Community Bank N.A. Has $6.56 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Community Bank N.A. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,877 shares of the semiconductor manufacturer’s stock after selling 253 shares during the period. Broadcom comprises about 0.9% of Community Bank N.A.’s portfolio, making the stock its 25th biggest holding. Community Bank N.A.’s holdings in Broadcom were worth $6,560,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PSI Advisors LLC raised its holdings in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares in the last quarter. Macroview Investment Management LLC bought a new stake in Broadcom during the 3rd quarter worth $29,000. BKM Wealth Management LLC bought a new stake in Broadcom during the 4th quarter worth $29,000. CKW Financial Group bought a new stake in Broadcom during the 4th quarter worth $30,000. Finally, Bfsg LLC bought a new stake in Broadcom during the 4th quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Finally, Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 0.6 %

NASDAQ:AVGO traded up $7.63 on Wednesday, hitting $1,256.82. The stock had a trading volume of 2,007,720 shares, compared to its average volume of 2,940,795. The business’s fifty day moving average is $1,304.15 and its 200 day moving average is $1,129.53. The company has a market cap of $582.44 billion, a PE ratio of 46.58, a P/E/G ratio of 2.50 and a beta of 1.25. 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 52 week low of $601.29 and a 52 week high of $1,438.17.

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

Broadcom Announces Dividend

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

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.