Ascent Group LLC Grows Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Ascent Group LLC increased its holdings in Broadcom Inc. by 49.1%, amassing 76,286 shares worth approximately $12.77 million.
• Broadcom reported a 22% year-over-year revenue increase for the last quarter, with EPS of $1.69, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.59 per share, with an ex-dividend date of September 22nd, reflecting a 0.7% dividend yield.

Ascent Group LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 49.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,286 shares of the semiconductor manufacturer's stock after buying an additional 25,112 shares during the quarter. Ascent Group LLC's holdings in Broadcom were worth $12,773,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of AVGO. PARUS FINANCE UK Ltd raised its holdings in Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Keener Financial Planning LLC raised its holdings in Broadcom by 34.8% during the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares in the last quarter. Diversify Wealth Management LLC raised its stake in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. raised its stake in shares of Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after buying an additional 1,014 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Broadcom by 1.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock worth $9,109,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Wells Fargo & Company increased their target price on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday. Oppenheimer reiterated 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. JPMorgan Chase & Co. increased their price objective on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler increased their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday. Finally, Benchmark increased their price target on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $351.92.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,286,457 in the last ninety days. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

NASDAQ:AVGO traded down $8.98 during mid-day trading on Tuesday, hitting $336.67. 26,756,440 shares of the company's stock traded hands, compared to its average volume of 22,489,222. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm's 50 day simple moving average is $294.92 and its 200 day simple moving average is $238.95. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $356.34. The company has a market cap of $1.58 trillion, a PE ratio of 85.89, a price-to-earnings-growth ratio of 1.89 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $15.82 billion. During the same period last year, the firm posted $1.24 EPS. 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. Sell-side 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 paid a dividend of $0.59 per share. 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 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.