North Dallas Bank & Trust Co. Invests $1.22 Million in Broadcom Inc. $AVGO

North Dallas Bank & Trust Co. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,420 shares of the semiconductor manufacturer’s stock, valued at approximately $1,218,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sawyer & Company Inc increased its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the second quarter worth about $27,000. Legend Financial Advisors Inc. acquired a new stake in Broadcom in the second quarter worth about $28,000. Teachers Insurance & Annuity Association of America acquired a new position in Broadcom during the 2nd quarter valued at about $28,000. Finally, LGT Financial Advisors LLC acquired a new position in Broadcom during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $430.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Friday. Morgan Stanley increased their price target on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial set a $420.00 price objective on Broadcom and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, Bank of America upped their price objective on Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $435.85.

Broadcom Price Performance

Shares of AVGO stock opened at $359.93 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The firm has a fifty day moving average of $363.17 and a 200-day moving average of $317.95. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 75.62, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 49.58%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 837,433 shares of company stock worth $303,900,352 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.