Pinnacle Bancorp Inc. Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Pinnacle Bancorp Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 31.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,820 shares of the semiconductor manufacturer’s stock after buying an additional 435 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Broadcom were worth $422,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. lifted its position in shares of Broadcom by 17.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 7,642 shares of the semiconductor manufacturer’s stock valued at $1,772,000 after acquiring an additional 1,121 shares in the last quarter. Presilium Private Wealth LLC acquired a new position in Broadcom in the 4th quarter valued at about $281,000. Caldwell Investment Management Ltd. raised its stake in Broadcom by 144.2% in the 4th quarter. Caldwell Investment Management Ltd. now owns 10,500 shares of the semiconductor manufacturer’s stock valued at $2,470,000 after purchasing an additional 6,200 shares during the last quarter. Wiser Wealth Management Inc lifted its holdings in Broadcom by 24.9% in the 4th quarter. Wiser Wealth Management Inc now owns 1,598 shares of the semiconductor manufacturer’s stock valued at $370,000 after purchasing an additional 319 shares in the last quarter. Finally, Apella Capital LLC boosted its stake in shares of Broadcom by 6.2% during the 4th quarter. Apella Capital LLC now owns 2,956 shares of the semiconductor manufacturer’s stock worth $685,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

Broadcom Price Performance

AVGO stock opened at $229.41 on Friday. The firm has a market cap of $1.08 trillion, a P/E ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The stock has a 50-day simple moving average of $200.02 and a 200-day simple moving average of $177.11.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.