Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,385 shares of the semiconductor manufacturer’s stock after buying an additional 252 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Broadcom were worth $6,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PSI Advisors LLC increased its stake in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $29,000. CKW Financial Group acquired a new stake in shares of Broadcom during the fourth quarter worth about $30,000. Bfsg LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $35,000. Finally, Macroview Investment Management LLC acquired a new stake in shares of Broadcom in the 3rd quarter valued at about $29,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO stock traded up $46.96 during midday trading on Friday, hitting $1,341.38. 1,379,020 shares of the stock were exchanged, compared to its average volume of 2,922,481. The stock’s 50-day moving average price is $1,304.73 and its 200-day moving average price is $1,130.68. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market cap of $621.62 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 2.56 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.57%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Evercore ISI started coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Susquehanna upped their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Company 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.