Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 97.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,012 shares of the semiconductor manufacturer's stock after acquiring an additional 14,804 shares during the period. Broadcom makes up about 1.1% of Pinion Investment Advisors LLC's portfolio, making the stock its 19th largest holding. Pinion Investment Advisors LLC's holdings in Broadcom were worth $5,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canton Hathaway LLC purchased a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter worth approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the fourth quarter worth $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock traded up $4.22 during trading on Monday, hitting $252.92. 8,703,313 shares of the stock were exchanged, compared to its average volume of 30,298,684. 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 12 month low of $128.50 and a 12 month high of $265.43. The stock's fifty day moving average is $213.01 and its 200 day moving average is $209.85. The stock has a market cap of $1.19 trillion, a PE ratio of 206.39, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.96 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.93%. Broadcom's payout ratio is 88.39%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider now directly owns 789,784 shares in the company, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 730,576 shares of company stock valued at $133,778,494. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Redburn Atlantic began coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. Oppenheimer raised their target price on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Sunday. Bank of America raised their price objective on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Mizuho lifted their price objective on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $276.09.

Broadcom 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.