1ST Source Bank Sells 211 Shares of Broadcom Inc. (NASDAQ:AVGO)

1ST Source Bank trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,278 shares of the semiconductor manufacturer’s stock after selling 211 shares during the quarter. 1ST Source Bank’s holdings in Broadcom were worth $7,483,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. boosted its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $33,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.2 %

Broadcom stock opened at $195.54 on Monday. The stock has a market cap of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company’s 50-day moving average price is $218.12 and its two-hundred day moving average price is $194.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is presently 113.46%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVGO shares. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.