First Financial Bank Trust Division Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

First Financial Bank Trust Division grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 35,031 shares of the semiconductor manufacturer’s stock after buying an additional 2,021 shares during the quarter. First Financial Bank Trust Division’s holdings in Broadcom were worth $8,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. boosted its holdings in shares of Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after acquiring an additional 59 shares during the period. Delta Investment Management LLC boosted its stake in Broadcom by 14.9% in the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after purchasing an additional 66 shares during the period. Raab & Moskowitz Asset Management LLC grew its holdings in Broadcom by 6.2% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after buying an additional 67 shares in the last quarter. Decatur Capital Management Inc. increased its position in shares of Broadcom by 2.2% during the second quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock valued at $5,083,000 after buying an additional 68 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Broadcom by 11.3% in the second quarter. Kathmere Capital Management LLC now owns 672 shares of the semiconductor manufacturer’s stock worth $1,079,000 after buying an additional 68 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Broadcom Trading Down 0.0 %

AVGO stock traded down $0.06 during trading on Thursday, hitting $231.78. 26,102,898 shares of the company traded hands, compared to its average volume of 30,456,207. The company has a 50-day moving average of $188.87 and a 200-day moving average of $173.02. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1 year low of $104.15 and a 1 year high of $251.88. The firm has a market capitalization of $1.09 trillion, a PE ratio of 201.37, a P/E/G ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. Broadcom’s payout ratio is presently 191.87%.

Insider Activity

In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,408 shares of company stock valued at $33,412,228. Insiders own 2.00% of the company’s stock.

Broadcom 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.