Broadcom Inc. $AVGO is Cove Private Wealth LLC's 7th Largest Position

Key Points

• Cove Private Wealth LLC increased its stake in Broadcom Inc. by 13.2% in the 2nd quarter, making it the firm's 7th largest position with a value of approximately $7.4 million.
• Analysts have recently revised their price targets for Broadcom, with several firms setting targets between $357.00 and $400.00, indicating a strong consensus rating of "Buy."
• Broadcom announced a quarterly dividend of $0.59 per share, representing an annualized payout of $2.36, with a dividend yield of 0.7%.

Cove Private Wealth LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,761 shares of the semiconductor manufacturer's stock after buying an additional 3,121 shares during the period. Broadcom accounts for approximately 2.6% of Cove Private Wealth LLC's holdings, making the stock its 7th biggest holding. Cove Private Wealth LLC's holdings in Broadcom were worth $7,377,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AVGO. Nuveen LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD grew its stake in shares of Broadcom by 37.8% during 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 buying an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after buying an additional 4,550,647 shares during the period. Deutsche Bank AG grew its stake in shares of Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after buying an additional 4,077,910 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Morgan Stanley lifted their target price on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Rosenblatt Securities lifted their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Sanford C. Bernstein lifted their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Finally, KeyCorp lifted their target price on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and a consensus price target of $356.48.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were 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. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $327.90 on Tuesday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month 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 firm has a market capitalization of $1.55 trillion, a P/E ratio of 83.65, a P/E/G ratio of 1.85 and a beta of 1.16. The company's fifty day moving average price is $314.46 and its two-hundred day moving average price is $254.25.

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 analysts' consensus estimates 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 quarter in the previous year, the business posted $1.24 EPS. The firm's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is currently 60.20%.

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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