Alpine Bank Wealth Management Grows Position in Broadcom Inc. $AVGO

Key Points

• Alpine Bank Wealth Management increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.9%, bringing their total shares to 14,477, valued at approximately $3,991,000.
• Among major institutional investors, Nuveen LLC and Price T Rowe Associates significantly increased their positions in Broadcom, with Price T Rowe acquiring over 17.9 million shares valued at approximately $10.97 billion.
• In terms of recent stock performance, Broadcom reported $1.69 EPS in its last earnings report, beating estimates, and announced a $0.59 quarterly dividend with a yield of 0.7%.

Alpine Bank Wealth Management increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,477 shares of the semiconductor manufacturer's stock after buying an additional 804 shares during the period. Broadcom comprises about 0.6% of Alpine Bank Wealth Management's portfolio, making the stock its 25th biggest position. Alpine Bank Wealth Management's holdings in Broadcom were worth $3,991,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Nuveen LLC purchased a new position in Broadcom in the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% in the first 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. Goldman Sachs Group Inc. increased its stake in Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG increased its stake in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after purchasing an additional 4,077,910 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVGO shares. Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Argus increased their price objective on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 8th. Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Susquehanna increased their price objective on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Finally, Truist Financial increased their price objective on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $357.22.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $338.18 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock has a fifty day moving average price of $317.47 and a 200 day moving average price of $256.30. The company has a market cap of $1.60 trillion, a PE ratio of 86.27, a P/E/G ratio of 1.85 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the company earned $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

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.

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