Broadcom Inc. $AVGO Shares Acquired by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. increased its position in Broadcom Inc. (NASDAQ:AVGO) by 16.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,716 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,833 shares during the period. Broadcom accounts for about 0.7% of Pinnacle Wealth Planning Services Inc.’s holdings, making the stock its 20th biggest holding. Pinnacle Wealth Planning Services Inc.’s holdings in Broadcom were worth $5,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Nuveen LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. raised its position in Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG boosted its stake in Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. grew its position in Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $354.42 on Thursday. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 90.41, a PEG ratio of 1.17 and a beta of 1.19. The business’s 50 day moving average is $348.80 and its two-hundred day moving average is $298.58. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is 60.20%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. KeyCorp set a $460.00 target price on Broadcom in a report on Monday, October 13th. Finally, Truist Financial upped their price target on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Buy” and an average target price of $372.52.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. 2.00% of the stock is owned by company insiders.

About Broadcom

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.