Broadcom Inc. (NASDAQ:AVGO) Shares Sold by American National Bank & Trust

American National Bank & Trust lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 104,878 shares of the semiconductor manufacturer’s stock after selling 304 shares during the quarter. Broadcom makes up about 1.9% of American National Bank & Trust’s portfolio, making the stock its 12th largest holding. American National Bank & Trust’s holdings in Broadcom were worth $17,560,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AVGO. Canton Hathaway LLC acquired a new stake in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom during the fourth quarter worth approximately $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on AVGO shares. Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, April 11th. Mizuho upped their price objective on shares of Broadcom from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America cut their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Oppenheimer raised their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $238.77.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares of the company’s stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 in the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 1.0%

Shares of NASDAQ AVGO opened at $239.50 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.13 trillion, a PE ratio of 195.35, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The stock has a fifty day simple moving average of $195.38 and a 200-day simple moving average of $203.43.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.