Abundance Wealth Counselors Grows Holdings in Broadcom Inc. $AVGO

Key Points

• Abundance Wealth Counselors increased its holdings in Broadcom Inc. by 15.4% during Q2, now owning 13,184 shares valued at approximately $3.82 million, making it the 24th largest position in their portfolio.
• Multiple institutional investors also raised their stakes in Broadcom, with Brighton Jones LLC increasing its position by 21.8%, reflecting strong institutional interest in the semiconductor manufacturer.
• Analysts have shown a positive outlook on Broadcom, with three rating the stock as a Strong Buy and a consensus target price of $357.22, significantly higher than its current trading price.

Abundance Wealth Counselors raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,184 shares of the semiconductor manufacturer's stock after buying an additional 1,758 shares during the period. Broadcom comprises 0.7% of Abundance Wealth Counselors' investment portfolio, making the stock its 24th biggest position. Abundance Wealth Counselors' holdings in Broadcom were worth $3,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. City Holding Co. increased its stake in shares of Broadcom by 50.8% during the first quarter. City Holding Co. now owns 4,023 shares of the semiconductor manufacturer's stock worth $674,000 after purchasing an additional 1,355 shares in the last quarter. Parisi Gray Wealth Management increased its stake in shares of Broadcom by 21.6% during the first quarter. Parisi Gray Wealth Management now owns 14,781 shares of the semiconductor manufacturer's stock worth $2,475,000 after purchasing an additional 2,628 shares in the last quarter. Finally, Regatta Capital Group LLC increased its stake in shares of Broadcom by 2.7% during the first quarter. Regatta Capital Group LLC now owns 24,640 shares of the semiconductor manufacturer's stock worth $4,126,000 after purchasing an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AVGO shares. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Sanford C. Bernstein boosted their target price on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Benchmark boosted their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Wells Fargo & Company boosted their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Broadcom in a research report on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus price target of $357.22.

Broadcom Stock Performance

NASDAQ:AVGO opened at $336.41 on Wednesday. The company's 50-day moving average is $320.03 and its two-hundred day moving average is $259.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The firm has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.24 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

About Broadcom

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

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.