Indiana Trust & Investment Management Co Increases Its Stake in Broadcom Inc.

Indiana Trust & Investment Management Co has significantly increased its investment in Broadcom Inc. (NASDAQ:AVGO) by an impressive 2,107.5% during the third quarter of the year, according to the latest Form 13F filing submitted to the SEC. The firm now holds 1,170 shares of the semiconductor giant after acquiring an additional 1,117 shares in the quarter. This stake is valued at approximately $202,000 as reported in their recent filing.

Other institutional investors have also made notable adjustments to their positions in Broadcom. For instance, Lion Street Advisors LLC raised its holdings by 1.9% during the second quarter and now owns 324 shares valued at $520,000, following the purchase of 6 additional shares. Similarly, Buckley Wealth Management LLC increased its stake by 0.7% in the first quarter, holding a total of 1,153 shares worth $1,529,000 after acquiring 8 more shares. Legend Financial Advisors Inc. saw a remarkable 72.7% increase in its holdings during the first quarter, ending up with 19 shares valued at $25,000 after purchasing 8 shares.Moreover, Ascent Wealth Partners LLC grew its position by 0.3%, owning 2,964 shares now valued at $3,929,000 after acquiring another 8 shares. O Dell Group LLC also increased its stake by 2.3%, now owning 356 shares worth $472,000 after buying 8 additional shares. Currently, institutional investors control about 76.43% of Broadcom’s stock.

Performance of Broadcom Shares

As for Broadcom's stock performance, shares opened at $181.53 recently. The company boasts a market capitalization of approximately $845 billion, featuring a price-to-earnings (P/E) ratio of 7.81 and a price-to-earnings growth (PEG) ratio of 2.99. The 50-day moving average is $165.88 while the 200-day moving average stands at $152.92. In terms of financial ratios, Broadcom has a debt-to-equity ratio of 1.02, a current ratio of 1.04, and a quick ratio of 0.94. The semiconductor firm's stock has experienced a 52-week low of $81.83 and peaked at $186.42 during the same period.

Broadcom recently reported its quarterly earnings on September 5th, revealing $1.24 earnings per share (EPS), outperforming the consensus estimate of $1.20 by $0.04. The company achieved a return on equity of 30.12% and a net margin of 10.88%, alongside a revenue of $13.07 billion for the quarter, which exceeded analyst expectations of $12.98 billion. This revenue reflects a significant 47.3% increase year over year. Analysts predict Broadcom will announce a 3.78 EPS for the current financial year.

Dividend Increase from Broadcom

In terms of dividends, Broadcom has declared a quarterly dividend which was paid out on September 30th. Shareholders on record as of September 19th received a dividend of $0.53, which matches the previous quarterly payout. Over a year, this equates to an annual dividend of $2.12, yielding approximately 1.17%. The company's current dividend payout ratio stands at 9.12%.

Insider Transactions at Broadcom

Looking at insider activity, Charlie B. Kawwas, an insider at Broadcom, sold 15,950 shares on October 11th at an average price of $181.44, resulting in total earnings of about $2,893,968. Following this transaction, Kawwas retains ownership of 737,330 shares valued at around $133,781,155.20, with no significant change in their overall position. Additionally, on September 19th, Kawwas sold 25,200 shares at an average price of $168.27 for $4,240,404.00. Recent insider trading activity in the last 90 days indicates that company insiders sold a total of 311,080 shares worth $53,540,590, with insiders currently holding 2.00% of the company’s stock.

Analyst Ratings for Broadcom

Recent reports from analysts reveal various projections for Broadcom. Notably, UBS Group adjusted their price target from $173.50 to $170.00 while maintaining a "buy" rating. On the other hand, Oppenheimer adjusted their price target from an astronomical $2,000.00 down to $200.00 while still issuing an "outperform" rating. StockNews.com has downgraded Broadcom from a "buy" rating to a "hold" rating. Bank of America continues to back the stock, reiterating a "buy" rating and raising the target price from $200.00 to $215.00. Finally, Truist Financial has increased their price target from $204.00 to $205.00, assigning a "buy" rating in a recent note. Overall, analysts categorize Broadcom’s stock as a "Moderate Buy," with a consensus price target around $191.54.

Understanding Broadcom

Broadcom Inc. is a leading global designer, developer, and supplier of a variety of semiconductor devices, particularly focusing on complex digital and mixed-signal CMOS (complementary metal oxide semiconductor) devices, along with analog III-V based products. The enterprise operates in two main segments: Semiconductor Solutions and Infrastructure Software.

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