BancFirst Trust & Investment Management Buys Shares of 1,200 Broadcom Inc. $AVGO

Key Points

• BancFirst Trust & Investment Management purchased 1,200 shares of Broadcom Inc. for approximately $323,000, making it the fund's 29th largest investment.
• Broadcom's recent earnings report showed EPS of $1.69, exceeding analysts' expectations, with revenues of $15.95 billion for the quarter, up 22% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, reflecting an annual yield of 0.7%, with a payout ratio of 60.20%.

BancFirst Trust & Investment Management bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,200 shares of the semiconductor manufacturer's stock, valued at approximately $323,000. Broadcom makes up 0.1% of BancFirst Trust & Investment Management's portfolio, making the stock its 29th largest holding.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.4% in 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 acquiring an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadcom by 37.8% in 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 acquiring an additional 17,985,046 shares in the last quarter. Nuveen LLC bought a new position in shares of Broadcom in the 1st quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 grew its holdings in shares of 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. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.1%

Shares of NASDAQ:AVGO opened at $359.87 on Friday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The stock has a market cap of $1.69 trillion, a PE ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. The business has a 50 day moving average of $300.31 and a 200-day moving average of $241.98. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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 (EPS) for the quarter, topping 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 company 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. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued 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 is Monday, September 22nd. Broadcom's payout ratio is currently 60.20%.

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You purchased 500 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was acquired at an average price of $363.38 per share, with a total value of $181,690.00. Following the completion of the transaction, the director owned 35,602 shares of the company's stock, valued at $12,937,054.76. This represents a 1.42% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, 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. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial raised 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. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Mizuho lifted their price target on Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Oppenheimer reiterated an "outperform" rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $354.04.

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.

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