Broadcom Inc. $AVGO Stock Position Lifted by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in Broadcom Inc. by 27.9% in Q1, owning 64,130 shares valued at approximately $10.74 million.
• Analysts have raised their price targets for Broadcom, with several firms setting new targets ranging from $360.00 to $400.00, indicating strong investor confidence.
• Broadcom recently announced a quarterly dividend of $0.59 per share, with a yield of 0.7% and a dividend payout ratio of 60.20%.

Geneos Wealth Management Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,130 shares of the semiconductor manufacturer's stock after purchasing an additional 13,978 shares during the period. Geneos Wealth Management Inc.'s holdings in Broadcom were worth $10,737,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its position in Broadcom by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 842,741 shares of the semiconductor manufacturer's stock worth $141,100,000 after acquiring an additional 3,974 shares in the last quarter. Acorns Advisers LLC grew its position in Broadcom by 24.3% in the first quarter. Acorns Advisers LLC now owns 4,184 shares of the semiconductor manufacturer's stock worth $701,000 after acquiring an additional 818 shares in the last quarter. Blue Rock Wealth Management LLC bought a new stake in Broadcom in the first quarter worth approximately $318,000. Fortis Capital Advisors LLC grew its position in Broadcom by 129.1% in the first quarter. Fortis Capital Advisors LLC now owns 8,842 shares of the semiconductor manufacturer's stock worth $1,480,000 after acquiring an additional 4,982 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its position in Broadcom by 53.0% in the first quarter. Belpointe Asset Management LLC now owns 35,251 shares of the semiconductor manufacturer's stock worth $5,902,000 after acquiring an additional 12,214 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on AVGO. KeyCorp upped their price objective on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday. Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Piper Sandler upped their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Broadcom presently has an average rating of "Buy" and an average price target of $351.92.

Broadcom Price Performance

NASDAQ:AVGO opened at $336.67 on Wednesday. The stock has a market cap of $1.58 trillion, a P/E ratio of 85.89, a PEG ratio of 1.89 and a beta of 1.16. Broadcom Inc. has a one year low of $138.10 and a one year high of $356.34. The company has a fifty day moving average price of $294.92 and a 200 day moving average price of $238.95. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Insider Activity

In related news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the transaction, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 820,516 shares of company stock worth $214,757,657. Corporate insiders own 2.00% of the company's stock.

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.

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