Security National Bank Buys 19,231 Shares of Broadcom Inc. (NASDAQ:AVGO)

Security National Bank grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 898.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,371 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,231 shares during the quarter. Security National Bank’s holdings in Broadcom were worth $3,686,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVGO. Kure Advisory LLC acquired a new stake in Broadcom in the 3rd quarter worth approximately $206,000. New England Research & Management Inc. increased its holdings in Broadcom by 880.0% in the third quarter. New England Research & Management Inc. now owns 17,355 shares of the semiconductor manufacturer’s stock valued at $2,994,000 after buying an additional 15,584 shares in the last quarter. Green Alpha Advisors LLC raised its position in shares of Broadcom by 809.2% in the third quarter. Green Alpha Advisors LLC now owns 10,328 shares of the semiconductor manufacturer’s stock worth $1,782,000 after acquiring an additional 9,192 shares during the period. Sara Bay Financial boosted its stake in shares of Broadcom by 914.9% during the 3rd quarter. Sara Bay Financial now owns 8,028 shares of the semiconductor manufacturer’s stock worth $1,385,000 after acquiring an additional 7,237 shares in the last quarter. Finally, Bank of New Hampshire grew its position in shares of Broadcom by 954.5% during the 3rd quarter. Bank of New Hampshire now owns 580 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 525 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $175.08 on Tuesday. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $185.16. The company has a market capitalization of $814.98 billion, a price-to-earnings ratio of 7.53, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The firm has a 50-day simple moving average of $159.64 and a 200-day simple moving average of $149.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $172.32, for a total value of $3,446,400.00. Following the sale, the chief executive officer now owns 1,151,910 shares in the company, valued at approximately $198,497,131.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,452 shares of company stock valued at $56,396,638 over the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. UBS Group lowered their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Mizuho raised their target price on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Barclays boosted their price target on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Finally, Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $189.23.

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.