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

Pittenger & Anderson Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 867.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,900 shares of the semiconductor manufacturer's stock after purchasing an additional 55,504 shares during the period. Pittenger & Anderson Inc.'s holdings in Broadcom were worth $10,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 134 shares in the last quarter. Delta Asset Management LLC TN raised its stake in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 17 shares during the period. Tsfg LLC raised its stake in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares during the period. Krane Funds Advisors LLC bought a new stake in Broadcom during the 3rd quarter valued at approximately $42,000. Finally, Highline Wealth Partners LLC bought a new stake in Broadcom during the 3rd quarter valued at approximately $45,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last three months. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AVGO shares. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Oppenheimer reduced their price objective on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 16th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday. TD Cowen raised Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Down 0.1 %

Shares of AVGO stock traded down $0.17 during mid-day trading on Friday, hitting $183.64. The stock had a trading volume of 13,491,305 shares, compared to its average volume of 29,781,646. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The firm has a market capitalization of $857.71 billion, a P/E ratio of 159.55, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. The firm's 50-day moving average is $170.75 and its two-hundred day moving average is $157.78. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the business earned $0.95 EPS. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is 184.19%.

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.