Abacus FCF Advisors LLC Takes Position in Broadcom Inc. $AVGO

Key Points

• Abacus FCF Advisors LLC acquired a new stake in Broadcom Inc., purchasing 26,784 shares valued at approximately $7.38 million in Q2.
• Broadcom reported a quarterly EPS of $1.69, exceeding expectations and demonstrating a 22% year-over-year revenue growth, totaling $15.95 billion.
• The company declared a quarterly dividend of $0.59, with an annualized yield of 0.7%, set to be paid on September 30th.

Abacus FCF Advisors LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,784 shares of the semiconductor manufacturer's stock, valued at approximately $7,383,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. TTP Investments Inc. boosted its position in shares of Broadcom by 0.8% in the second quarter. TTP Investments Inc. now owns 25,735 shares of the semiconductor manufacturer's stock valued at $7,094,000 after acquiring an additional 214 shares during the period. Kaufman Rossin Wealth LLC lifted its position in Broadcom by 12.9% in the 2nd quarter. Kaufman Rossin Wealth LLC now owns 2,822 shares of the semiconductor manufacturer's stock worth $778,000 after buying an additional 323 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Broadcom by 31.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 79,394 shares of the semiconductor manufacturer's stock worth $21,885,000 after acquiring an additional 18,977 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Broadcom by 9.3% in the second quarter. Wedge Capital Management L L P NC now owns 5,266 shares of the semiconductor manufacturer's stock valued at $1,452,000 after purchasing an additional 446 shares during the last quarter. Finally, Great Waters Wealth Management bought a new stake in Broadcom during the 2nd quarter valued at $240,000. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $344.94 on Monday. The stock's 50-day simple moving average is $308.05 and its 200-day simple moving average is $248.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The firm has a market capitalization of $1.63 trillion, a PE ratio of 87.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares of the company's stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 790,522 shares worth $224,295,124. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AVGO shares. Morgan Stanley increased their price target on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Evercore ISI reissued an "outperform" rating and set a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. UBS Group upped their price objective on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Wells Fargo & Company increased their target price on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $356.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.