Community Bank & Trust Waco Texas Sells 835 Shares of Broadcom Inc. $AVGO

Key Points

• Community Bank & Trust Waco Texas reduced its holdings in Broadcom Inc. by 3.3%, selling 835 shares, bringing its total ownership to 24,564 shares valued at approximately $4.1 million.
• Broadcom reported earnings per share of $1.58 for the last quarter, surpassing analysts' expectations, with a year-over-year revenue increase of 20.2%.
• The company recently declared a quarterly dividend of $0.59 per share, with an annualized yield of 0.8% and a dividend payout ratio of 88.39%.

Community Bank & Trust Waco Texas lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,564 shares of the semiconductor manufacturer's stock after selling 835 shares during the period. Community Bank & Trust Waco Texas' holdings in Broadcom were worth $4,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares in the last quarter. PARUS FINANCE UK Ltd increased its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after acquiring an additional 64,038 shares in the last quarter. Nebula Research & Development LLC increased its holdings in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Keener Financial Planning LLC increased its holdings in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after acquiring an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after acquiring an additional 2,016 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.6%

Shares of AVGO opened at $306.34 on Monday. The company has a market cap of $1.44 trillion, a PE ratio of 114.73, a P/E/G ratio of 2.18 and a beta of 1.15. The business has a fifty day moving average of $278.27 and a 200 day moving average of $229.89. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. Broadcom's revenue was up 20.2% on a year-over-year basis. During the same period last year, the company earned $10.96 earnings per share. On average, sell-side 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 was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer owned 325,587 shares in the company, valued at $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. Morgan Stanley set a $338.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Evercore ISI reaffirmed an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. KeyCorp increased their price objective on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Barclays increased their price objective on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $295.96.

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.

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