Broadcom Inc. $AVGO Shares Purchased by Xcel Wealth Management LLC

Key Points

• Xcel Wealth Management LLC increased its stake in Broadcom Inc. by 4.5% during the second quarter, holding 26,779 shares valued at approximately $7.38 million.
• Broadcom has recently received positive analyst ratings, with price targets boosted by firms such as JPMorgan to $400 and HSBC upgrading its rating to buy.
• The company declared a quarterly dividend of $0.59 per share, indicating an annualized total of $2.36, with a dividend yield of 0.7% and a payout ratio of 60.20%.

Xcel Wealth Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,779 shares of the semiconductor manufacturer's stock after acquiring an additional 1,142 shares during the quarter. Broadcom makes up about 2.1% of Xcel Wealth Management LLC's portfolio, making the stock its 12th biggest holding. Xcel Wealth Management LLC's holdings in Broadcom were worth $7,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the period. Central Pacific Bank Trust Division raised its holdings in Broadcom by 20.5% in the 1st quarter. Central Pacific Bank Trust Division now owns 25,260 shares of the semiconductor manufacturer's stock valued at $4,229,000 after buying an additional 4,305 shares during the period. Baring Financial LLC purchased a new stake in Broadcom in the 1st quarter valued at about $213,000. Finally, Moody National Bank Trust Division raised its holdings in Broadcom by 2.3% in the 1st quarter. Moody National Bank Trust Division now owns 60,320 shares of the semiconductor manufacturer's stock valued at $10,099,000 after buying an additional 1,333 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Susquehanna boosted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Evercore ISI reiterated an "outperform" rating and set a $342.00 price target (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Finally, Morgan Stanley boosted their price target on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Three research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $356.48.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $334.53 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a market cap of $1.58 trillion, a PE ratio of 85.34, a P/E/G ratio of 1.86 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The business has a 50-day simple moving average of $313.66 and a 200-day simple moving average of $252.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

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.

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