Broadcom Inc. $AVGO Shares Purchased by Johnson Investment Counsel Inc.

Key Points

• Johnson Investment Counsel Inc. increased its investments in Broadcom Inc. by 4.1%, owning 149,336 shares valued at approximately $41.17 million as of the last reporting period.
• Analysts have a mostly Buy rating for Broadcom, with a consensus price target of $372.33, following several upgrades from different firms.
• Broadcom recently declared a quarterly dividend of $0.59, maintaining a dividend yield of 0.7% and a payout ratio of 60.20%.

Johnson Investment Counsel Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,336 shares of the semiconductor manufacturer's stock after buying an additional 5,879 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Broadcom were worth $41,165,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Sawyer & Company Inc boosted its holdings in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. PFS Partners LLC lifted its holdings in shares of Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares during the period. Costello Asset Management INC lifted its holdings in shares of Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock valued at $697,000 after buying an additional 38 shares during the period. Waddell & Associates LLC raised its position in Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after acquiring an additional 43 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. raised its position in Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after acquiring an additional 44 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. Weiss Ratings cut shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Argus increased their price target on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Macquarie started coverage on shares of Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 price target on the stock. Rosenblatt Securities upped their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $372.33.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $349.33 on Friday. The stock has a market capitalization of $1.65 trillion, a PE ratio of 89.11, a P/E/G ratio of 1.99 and a beta of 1.20. The company has a fifty day moving average of $327.73 and a two-hundred day moving average of $268.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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 business 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 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. As a group, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is 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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