Broadcom Inc. $AVGO Shares Acquired by Activest Wealth Management

Key Points

• Activest Wealth Management increased its holdings in Broadcom Inc. by 86.5% in the first quarter, owning 1,932 shares valued at $323,000.
• Wall Street analysts have raised their price targets for Broadcom, with recommendations for a "buy" or "strong-buy" rating, predicting an average price target of $301.79.
• The company announced a quarterly dividend of $0.59 per share, reflecting an annualized yield of 0.8% and a payout ratio of 88.39%.

Activest Wealth Management lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 86.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,932 shares of the semiconductor manufacturer's stock after buying an additional 896 shares during the quarter. Activest Wealth Management's holdings in Broadcom were worth $323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. upped their target price on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. The Goldman Sachs Group reiterated a "buy" rating and set a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. Finally, Evercore ISI reiterated an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $301.79.

Broadcom Trading Down 3.6%

Shares of AVGO stock traded down $11.26 during mid-day trading on Friday, hitting $297.39. 21,581,160 shares of the company's stock were exchanged, compared to its average volume of 17,630,644. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The stock has a 50-day simple moving average of $287.74 and a two-hundred day simple moving average of $234.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter last year, the firm earned $10.96 earnings per share. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 88.39%.

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.