Broadcom Inc. $AVGO Stock Holdings Boosted by Angeles Wealth Management LLC

Key Points

• Angeles Wealth Management increased its Broadcom position by 4.8% in the second quarter, bringing its holdings to 44,949 shares valued at approximately $16.98 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly earnings of $3.32 per share on $29.59 billion in revenue, surpassing estimates, while revenue rose 85.5% year over year. The company also declared a $0.65 quarterly dividend, representing a 0.8% annualized yield.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $509.04 price target, although insiders sold 58,317 shares worth $22.75 million over the past 90 days.

Angeles Wealth Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 44,949 shares of the semiconductor manufacturer's stock after purchasing an additional 2,065 shares during the quarter. Broadcom accounts for 0.7% of Angeles Wealth Management LLC's portfolio, making the stock its 24th largest position. Angeles Wealth Management LLC's holdings in Broadcom were worth $16,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Unique Wealth LLC grew its position in Broadcom by 6.6% in the second quarter. Unique Wealth LLC now owns 4,603 shares of the semiconductor manufacturer's stock worth $1,739,000 after buying an additional 283 shares during the last quarter. Advisory Solutions Group LLC bought a new position in shares of Broadcom in the second quarter valued at $481,000. XP Advisory US Inc. acquired a new stake in shares of Broadcom during the 2nd quarter valued at $232,000. Rose Capital Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at $303,000. Finally, Schuylkill Financial LLC bought a new stake in shares of Broadcom during the 2nd quarter worth $927,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director owned 31,326 shares of the company's stock, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Brazeal sold 25,000 shares of the company's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,317 shares of company stock valued at $22,745,733 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $344.72 on Tuesday. The company's fifty day moving average is $382.45 and its two-hundred day moving average is $378.79. The company has a market cap of $1.65 trillion, a P/E ratio of 44.03 and a beta of 1.44. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The business had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter last year, the firm posted $1.69 earnings per share. Broadcom's revenue was up 85.5% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 10.36 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Rosenblatt Securities initiated coverage on Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $600.00 target price on the stock. Benchmark upped their target price on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Fox Advisors upgraded Broadcom to an "outperform" rating in a research report on Thursday, September 3rd. Citigroup reissued a "buy" rating and issued a $515.00 price target (up from $500.00) on shares of Broadcom in a research note on Friday, September 4th. Finally, Cantor Fitzgerald boosted their price objective on Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $509.04.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to gain exposure to AI while receiving dividend income. Its custom AI-chip business is expected to continue expanding rapidly as hyperscalers and AI companies build additional computing capacity. 3 Stocks That Offer AI Exposure and Dividends
• Positive Sentiment: CEO Hock Tan reportedly said demand already exceeds Broadcom’s $115 billion AI forecast, with AI revenue projected to double in fiscal 2027 and again in 2028. Accelerating shipments of Ironwood chips to Anthropic could further strengthen Broadcom’s custom-hardware opportunity. Broadcom CEO Hock Tan Says Demand Already Exceeds Broadcom’s $115 Billion AI Forecast
• Positive Sentiment: Mizuho analyst Vijay Rakesh expects AVGO to rally toward a new all-time high over the next 12 months, supporting the longer-term bullish case despite recent weakness. Wall Street Sets Broadcom Stock Price for the Next 12 Months
• Neutral Sentiment: Analyst commentary remains divided: Broadcom is viewed as a major beneficiary of AI demand, but Vertiv is considered better positioned on valuation, earnings momentum and near-term upside. Vertiv vs. Broadcom: Which AI Infrastructure Stock Has More Upside?
• Negative Sentiment: Investors are questioning whether AI spending can maintain its current pace. Broadcom also faces concerns about elevated valuation, customer concentration, margins and execution, while reports cite a failure to meet Wall Street’s fiscal fourth-quarter revenue expectations. Marvell Falls as AI Pacing Debate Collides With Fed Week

Broadcom Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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