Pinnacle Financial Partners Inc raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,347 shares of the semiconductor manufacturer's stock after acquiring an additional 5,583 shares during the period. Pinnacle Financial Partners Inc's holdings in Broadcom were worth $5,544,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Central Pacific Bank Trust Division raised its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after buying an additional 3,707 shares during the last quarter. Wolff Financial Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC raised its holdings in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after acquiring an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after acquiring an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors boosted its stake in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.
In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on AVGO shares. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research note on Friday, December 13th. Morgan Stanley decreased their target price on Broadcom from $265.00 to $246.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Finally, TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.04.
View Our Latest Report on Broadcom
NASDAQ AVGO opened at $207.93 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $974.64 billion, a price-to-earnings ratio of 169.60, a PEG ratio of 2.37 and a beta of 1.02. The company's 50 day moving average is $229.25 and its two-hundred day moving average is $190.93.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company's revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.13%. Broadcom's dividend payout ratio is 192.50%.
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.
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