Trust Investment Advisors Sells 162 Shares of Broadcom Inc. (NASDAQ:AVGO)

Trust Investment Advisors lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,567 shares of the semiconductor manufacturer’s stock after selling 162 shares during the period. Broadcom makes up about 2.6% of Trust Investment Advisors’ holdings, making the stock its 5th biggest position. Trust Investment Advisors’ holdings in Broadcom were worth $4,121,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Swedbank AB acquired a new position in shares of Broadcom during the first quarter valued at about $2,835,737,000. Vanguard Group Inc. raised its stake in Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the period. Jennison Associates LLC boosted its holdings in Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares in the last quarter. Capital International Investors boosted its holdings in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after acquiring an additional 1,006,223 shares in the last quarter. Finally, GQG Partners LLC grew its stake in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after acquiring an additional 983,328 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $167.42 on Friday. 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 Inc. has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The stock has a market cap of $779.32 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The stock has a fifty day moving average of $156.80 and a 200-day moving average of $146.69.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Oppenheimer cut their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Mizuho raised their price objective on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein raised their price target on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Finally, Evercore ISI boosted their price objective on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus 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.