Pinkerton Retirement Specialists LLC Has $5.58 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Pinkerton Retirement Specialists LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,475 shares of the semiconductor manufacturer’s stock after acquiring an additional 71 shares during the period. Broadcom accounts for about 0.9% of Pinkerton Retirement Specialists LLC’s portfolio, making the stock its 23rd largest position. Pinkerton Retirement Specialists LLC’s holdings in Broadcom were worth $5,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Barry Investment Advisors LLC acquired a new position in Broadcom during the fourth quarter worth $228,000. Capital International Ltd. CA raised its holdings in Broadcom by 1.7% during the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after buying an additional 1,310 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in Broadcom during the fourth quarter worth $2,238,000. Gryphon Financial Partners LLC raised its holdings in Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after buying an additional 801 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its holdings in Broadcom by 1.4% during the fourth quarter. Main Street Financial Solutions LLC now owns 1,830 shares of the semiconductor manufacturer’s stock worth $2,042,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 4.0 %

Shares of AVGO opened at $164.56 on Friday. The firm’s 50 day simple moving average is $188.20 and its 200 day simple moving average is $156.39. The company has a market capitalization of $766.01 billion, a P/E ratio of 7.08, a P/E/G ratio of 2.41 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1-year low of $79.51 and a 1-year high of $185.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the firm posted $0.95 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 3.75 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. Barclays upped their target price on shares of Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Citigroup reiterated a “buy” rating and issued a $156.00 target price on shares of Broadcom in a research note on Tuesday, June 11th. Sanford C. Bernstein upped their target price on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Finally, Truist Financial upped their target price on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 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.