Broadcom Inc. $AVGO Shares Bought by Nova Wealth Management Inc.

Key Points

• Nova Wealth Management Inc. increased its position in Broadcom Inc. by 78.1% during the first quarter, owning 2,710 shares worth $454,000 after purchasing an additional 1,188 shares.
• Broadcom's latest quarterly earnings showed a profit of $1.69 per share, slightly exceeding analyst estimates, with revenue reaching $15.95 billion, a 22.0% increase year-over-year.
• The company has announced a quarterly dividend of $0.59 per share with a yield of 0.7%, to be paid on September 30th to shareholders of record on September 22nd.

Nova Wealth Management Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 78.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,710 shares of the semiconductor manufacturer's stock after acquiring an additional 1,188 shares during the quarter. Nova Wealth Management Inc.'s holdings in Broadcom were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the 1st quarter worth about $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. TD Cowen boosted their target price on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Morgan Stanley boosted their target price on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Argus boosted their target price on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Finally, Bank of America boosted their target price on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average price target of $354.04.

Insider Activity

In other news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 850,912 shares valued at $234,854,489. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 0.1%

Shares of NASDAQ AVGO traded up $0.24 during mid-day trading on Friday, reaching $359.87. 31,929,014 shares of the company were exchanged, compared to its average volume of 25,328,086. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.69 trillion, a price-to-earnings ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm has a 50-day moving average of $300.31 and a 200 day moving average of $242.19.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business 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. The company's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business 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. The ex-dividend date is 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%.

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.