Pinnacle Wealth Planning Services Inc. Buys 1,163 Shares of Broadcom Inc. $AVGO

Key Points

• Pinnacle Wealth Planning Services Inc. increased its holdings in Broadcom Inc. by 7.4%, acquiring an additional 1,163 shares, bringing its total to 16,883 shares valued at approximately $2.83 million.
• Several institutional investors, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, have also increased their stakes in Broadcom, with institutional ownership now at 76.43%.
• Broadcom's stock recently hit a high of $297.39 and its timeline shows a significant revenue increase of 20.2% year-over-year, with a net margin of 22.64% reported in the latest quarterly earnings.

Pinnacle Wealth Planning Services Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,883 shares of the semiconductor manufacturer's stock after acquiring an additional 1,163 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Broadcom were worth $2,827,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Waddell & Associates LLC raised its holdings in shares of Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC grew its position in shares of Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after buying an additional 48 shares during the period. Martingale Asset Management L P lifted its holdings in Broadcom by 1.3% in the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after buying an additional 48 shares during the period. Wescott Financial Advisory Group LLC boosted its stake in Broadcom by 3.8% in the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after acquiring an additional 48 shares during the last quarter. Finally, Monterey Private Wealth Inc. boosted its stake in Broadcom by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock valued at $465,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 3.6%

Shares of AVGO traded down $11.26 on Friday, hitting $297.39. The company's stock had a trading volume of 21,581,160 shares, compared to its average volume of 17,630,644. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm's fifty day moving average price is $287.74 and its 200-day moving average price is $234.66. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The firm has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 111.38, a P/E/G ratio of 2.11 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the firm earned $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is 88.39%.

Analyst Ratings Changes

Several research firms have recently issued reports on AVGO. Benchmark boosted their target price on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. KeyCorp boosted their target price on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Truist Financial set a $295.00 target price on Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their target price on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Finally, Citigroup boosted their price objective on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average target price of $301.79.

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.