Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lessened by Town & Country Bank & Trust CO dba First Bankers Trust CO

Town & Country Bank & Trust CO dba First Bankers Trust CO trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,405 shares of the semiconductor manufacturer's stock after selling 4,242 shares during the period. Broadcom accounts for approximately 4.3% of Town & Country Bank & Trust CO dba First Bankers Trust CO's investment portfolio, making the stock its biggest position. Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings in Broadcom were worth $10,951,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AVGO shares. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Susquehanna boosted their price objective on Broadcom from $250.00 to $280.00 and gave the stock a "positive" rating in a report on Thursday. Bank of America lowered their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Mizuho lifted their price target on Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $238.77.

Broadcom Trading Down 1.0%

Shares of Broadcom stock traded down $2.47 on Friday, reaching $239.50. 27,045,094 shares of the company's stock were exchanged, compared to its average volume of 31,042,717. The firm's 50-day moving average is $195.38 and its two-hundred day moving average is $203.23. The company has a market capitalization of $1.13 trillion, a P/E ratio of 195.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88.

Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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.