Pioneer Trust Bank N A OR Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Pioneer Trust Bank N A OR raised its position in Broadcom Inc. (NASDAQ:AVGO) by 21.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,982 shares of the semiconductor manufacturer’s stock after purchasing an additional 352 shares during the period. Pioneer Trust Bank N A OR’s holdings in Broadcom were worth $460,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. First Western Trust Bank raised its stake in shares of Broadcom by 2.0% during the 4th quarter. First Western Trust Bank now owns 3,290 shares of the semiconductor manufacturer’s stock worth $763,000 after buying an additional 63 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Broadcom during the fourth quarter worth $727,000. PAX Financial Group LLC lifted its holdings in Broadcom by 111.9% during the fourth quarter. PAX Financial Group LLC now owns 10,847 shares of the semiconductor manufacturer’s stock valued at $2,515,000 after purchasing an additional 5,727 shares in the last quarter. Astra Wealth Partners LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $317,000. Finally, Wescott Financial Advisory Group LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $296,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 5.0 %

AVGO stock opened at $146.29 on Friday. The company’s 50 day moving average price is $201.57 and its 200 day moving average price is $195.95. The firm has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.61%. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 745,976 shares of company stock valued at $138,632,902. Insiders own 2.00% of the company’s stock.

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.