Trust Co. of Oklahoma Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Trust Co. of Oklahoma lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,980 shares of the semiconductor manufacturer's stock after buying an additional 1,567 shares during the period. Trust Co. of Oklahoma's holdings in Broadcom were worth $2,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the company'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 transaction of $184,152.00. Following the transaction, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 38,798,721 shares in the company, 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. In the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AVGO shares. Barclays increased their price objective on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday. UBS Group increased their price target on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday. Redburn Atlantic started coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday. Two analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $272.71.

Broadcom Price Performance

Shares of AVGO stock traded up $0.35 during trading hours on Tuesday, hitting $244.63. The company's stock had a trading volume of 25,457,534 shares, compared to its average volume of 31,006,436. 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 business has a fifty day moving average of $205.17 and a 200-day moving average of $207.37. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.54, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.96 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has authorized a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's payout ratio is currently 88.39%.

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.