Ables Iannone Moore & Associates Inc. Purchases New Position in Broadcom Inc. $AVGO

Key Points

• Ables Iannone Moore & Associates Inc. acquired a new position in Broadcom Inc., purchasing 812 shares valued at approximately $224,000 during the 2nd quarter.
• Insider trading included significant sales by CEO Hock E. Tan and Director Justine Page, with Tan selling 148,154 shares for nearly $50 million.
• Broadcom's stock has received multiple analyst upgrades, with a current consensus rating of "Buy" and an average price target of $354.04.

Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 812 shares of the semiconductor manufacturer's stock, valued at approximately $224,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Nuveen LLC acquired a new stake in Broadcom in the 1st quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after acquiring an additional 842,088 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total value of $245,968.00. Following the sale, the director owned 23,782 shares of the company's stock, valued at $7,312,013.72. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 850,912 shares valued at $234,854,489. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Oppenheimer restated an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Evercore ISI restated an "outperform" rating and issued a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Finally, Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $354.04.

Broadcom Stock Up 0.1%

Shares of NASDAQ AVGO opened at $359.87 on Friday. The stock has a market cap of $1.69 trillion, a P/E ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. The firm has a 50 day moving average price of $300.31 and a 200 day moving average price of $242.19. 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 52-week low of $138.10 and a 52-week high of $374.23.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is currently 60.20%.

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.

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.