Apollon Wealth Management LLC Buys 2,992 Shares of Broadcom Inc. $AVGO

Key Points

• Apollon Wealth Management LLC increased its holdings in Broadcom Inc. by 1.2%, acquiring an additional 2,992 shares during the second quarter, bringing their total to 262,025 shares valued at approximately $72.2 million.
• Several research analysts have raised their price targets for Broadcom, with Bank of America increasing their target from $300 to $400, as well as multiple firms assigning a "buy" rating to the stock.
• Broadcom recently announced a quarterly dividend of $0.59 per share with a dividend yield of 0.7%, underscoring the company's commitment to returning value to its shareholders.

Apollon Wealth Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,025 shares of the semiconductor manufacturer's stock after purchasing an additional 2,992 shares during the quarter. Broadcom accounts for approximately 1.4% of Apollon Wealth Management LLC's portfolio, making the stock its 9th largest position. Apollon Wealth Management LLC's holdings in Broadcom were worth $72,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Sawyer & Company Inc increased its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. PFS Partners LLC grew its stake in shares of Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 38 shares in the last quarter. Costello Asset Management INC grew its stake in shares of Broadcom by 1.5% in the second quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock worth $697,000 after acquiring an additional 38 shares in the last quarter. Waddell & Associates LLC grew its stake in shares of Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. boosted its holdings in Broadcom by 1.3% in the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America lifted their target price on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Truist Financial upped their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Argus upped their target price on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Piper Sandler boosted their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Citigroup reaffirmed a "buy" rating and set a $415.00 price objective (up from $350.00) on shares of Broadcom in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $372.33.

Broadcom Stock Performance

Shares of AVGO stock opened at $349.33 on Friday. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 89.11, a PEG ratio of 1.99 and a beta of 1.20. 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 1 year low of $138.10 and a 1 year high of $374.23. The stock's 50-day moving average is $327.73 and its two-hundred day moving average is $268.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 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 analysts' expectations of $15.82 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The firm's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. 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 60.20%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director directly owned 22,182 shares of the company's stock, valued at $7,767,027.30. This represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by corporate insiders.

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.

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