Community Bank N.A. Reduces Stake in Broadcom Inc.

Community Bank N.A. has decreased its investment in Broadcom Inc. (NASDAQ:AVGO) by 3.8% during the fourth quarter, as reported in its most recent 13F filing with the SEC. After this reduction, the institutional investor now holds 49,418 shares of the semiconductor company's stock, which represents a sale of 1,955 shares during the quarter. Broadcom constitutes about 1.5% of Community Bank N.A.'s entire portfolio, making it the tenth largest investment for the bank. As of the latest reporting period, the value of Community Bank N.A.'s shares in Broadcom stood at approximately $11.46 million.

Changes by Other Investors

In addition to Community Bank N.A., several other institutional investors have also adjusted their positions in Broadcom. For instance, Swedbank AB significantly increased its stake by an astonishing 858.7% in the third quarter, now owning about 18.37 million shares valued at approximately $3.17 billion after acquiring an additional 16.45 million shares. Similarly, Howard Capital Management Group LLC expanded its holdings by 2,219.8%, bringing its total to 3,039 shares worth approximately $524,000 after purchasing an extra 2,908 shares. Moreover, Principal Financial Group Inc. grew its position by 1,019.4%, now owning 7.18 million shares valued at about $1.24 billion, following a significant purchase of an additional 6.54 million shares.

Quest Partners LLC also made headlines by increasing its holdings in Broadcom by a staggering 3,295.8%, now owning 815 shares valued at roughly $141,000 after an additional buy of 791 shares. Lastly, Parnassus Investments LLC boosted its stake by 936.9%, holding 5.64 million shares worth about $973.46 million after increasing its position by 5.10 million shares. Overall, institutional investors and hedge funds collectively own approximately 76.43% of Broadcom's stock.

Recent Stock Performance

Recently, Broadcom's stock (AVGO) showed an increase of 0.6%, opening at $191.66. The stock has shown a 12-month low of $119.76 alongside a high of $251.88. As of now, the company holds a market capitalization of $901.18 billion, with a PE ratio of 156.33, a P/E/G ratio of 2.29, and a beta of 1.01. The firm also has a 50-day simple moving average of $214.38 and a 200-day simple moving average of $195.08, indicating a stable performance. Additionally, the company's debt-to-equity ratio stands at 0.98, with a current ratio of 1.17 and a quick ratio of 1.07.

Dividend Announcements

Broadcom has also recently declared a quarterly dividend, which is set to be paid on March 31st. Shareholders on record by March 20th will receive a dividend of $0.59 per share, translating to an annual dividend of $2.36 and a yield of 1.23%. The ex-dividend date is set for the same day, March 20th. Currently, Broadcom maintains a dividend payout ratio of 113.46%.

Analysts Update Price Targets

Various financial analysts have reviewed Broadcom, with several brokerages adjusting their price targets. Truist Financial raised their target from $260.00 to $267.00, maintaining a 'buy' rating. Evercore ISI also raised its price target from $201.00 to $250.00, while Bank of America increased their target from $215.00 to $250.00, endorsing a 'buy' rating. Similarly, Susquehanna revised its target from $200.00 to $225.00 and TD Cowen raised theirs from $210.00 to $240.00, both recommending a buy. Currently, Broadcom holds an average rating of 'Moderate Buy' with a consensus target price of $231.48.

Insider Trading Activities

In recent insider trading news, Director Diane M. Bryant sold 15,000 shares of Broadcom's stock on December 23rd, at an average price of $226.68. This transaction totaled $3,400,200, leaving her with 6,460 shares valued at approximately $1,464,352.80. Meanwhile, Director Eddy W. Hartenstein sold 4,000 shares on January 8th at an average price of $229.64, totaling $918,560. After this sale, he owns 46,400 shares, currently valued at around $10.65 million. In the last 90 days, insiders have sold a cumulative total of 172,168 shares worth approximately $40.51 million, indicating that insiders currently hold about 2.00% of the company's stock.

Company Overview

Broadcom Inc. specializes in designing, developing, and supplying a wide array of semiconductor devices, emphasizing complex digital and mixed signal complementary metal-oxide-semiconductor (CMOS) devices and analog III-V products globally. The company operates through two primary segments: Semiconductor Solutions and Infrastructure Software.

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