North Dallas Bank & Trust Co. Makes New $1.22 Million Investment in Broadcom Inc. $AVGO

North Dallas Bank & Trust Co. purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,420 shares of the semiconductor manufacturer’s stock, valued at approximately $1,218,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Broadcom in the second quarter valued at approximately $18,579,549,000. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Vanguard Group Inc. raised its holdings in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. Edgewood Management LLC bought a new position in Broadcom in the 2nd quarter worth $1,571,438,000. Finally, Alliancebernstein L.P. lifted its position in Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after acquiring an additional 4,077,910 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVGO. Susquehanna reaffirmed a “positive” rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. Robert W. Baird set a $420.00 target price on Broadcom in a report on Friday. Morgan Stanley upped their price target on Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a report on Friday. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday. Finally, Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $435.85.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 320,316 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the sale, the director directly owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 837,433 shares of company stock worth $303,900,352 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $359.93 on Friday. The firm has a market cap of $1.70 trillion, a P/E ratio of 75.62, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The firm’s 50-day simple moving average is $363.17 and its 200-day simple moving average is $317.95. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.The company’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 49.58%.

Broadcom 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.