Castle Rock Wealth Management LLC Sells 5,405 Shares of Broadcom Inc. $AVGO

Castle Rock Wealth Management LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,159 shares of the semiconductor manufacturer's stock after selling 5,405 shares during the quarter. Broadcom makes up approximately 1.2% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 15th biggest position. Castle Rock Wealth Management LLC's holdings in Broadcom were worth $5,238,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter valued at about $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom during the first quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom during the first quarter valued at about $26,000. Sawyer & Company Inc grew its position in shares of Broadcom by 62.1% during 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 in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Broadcom in the second quarter worth about $28,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of AVGO opened at $356.70 on Tuesday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.68 trillion, a PE ratio of 90.99, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The company's fifty day moving average price is $323.82 and its 200-day moving average price is $264.90.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current 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 paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Benchmark lifted their price target on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. The Goldman Sachs Group reissued a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Weiss Ratings downgraded shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Rosenblatt Securities lifted their price target on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $359.44.

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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