Broadcom Inc. $AVGO Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the second quarter, HoldingsChannel.com reports. The fund owned 62,295 shares of the semiconductor manufacturer’s stock after buying an additional 220 shares during the period. Pittenger & Anderson Inc.’s holdings in Broadcom were worth $17,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC purchased a new position in Broadcom during the first quarter worth about $25,000. Sawyer & Company Inc raised its stake in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new position in Broadcom during the second quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC raised its stake in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 137 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVGO. Argus lifted their target price on shares of Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Morgan Stanley set a $409.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Evercore ISI upped their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus price target of $372.52.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total transaction of $280,120.00. Following the sale, the director directly owned 22,182 shares in the company, valued at $7,767,027.30. This represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $354.13 on Monday. The firm has a market cap of $1.67 trillion, a P/E ratio of 90.34, a P/E/G ratio of 1.99 and a beta of 1.20. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm’s 50 day moving average price is $331.47 and its 200-day moving average price is $276.57.

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

Broadcom Announces Dividend

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

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.