Cypress Capital Group Has $15.12 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Cypress Capital Group increased its holdings in Broadcom Inc. by 2% in Q2, owning 54,865 shares valued at approximately $15.12 million.
• Broadcom announced a quarterly dividend of $0.59 per share, with a yield of 0.7% and a payout ratio of 60.20%.
• Several analysts have set a consensus price target of $372.33 for Broadcom, with a majority recommending the stock as a "buy".

Cypress Capital Group lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,865 shares of the semiconductor manufacturer's stock after buying an additional 1,066 shares during the quarter. Broadcom comprises 1.9% of Cypress Capital Group's holdings, making the stock its 13th biggest position. Cypress Capital Group's holdings in Broadcom were worth $15,124,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Sawyer & Company Inc boosted its stake in shares of 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 buying an additional 36 shares during the period. PFS Partners LLC raised its holdings in 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 acquiring an additional 38 shares in the last quarter. Costello Asset Management INC lifted its position in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock valued at $697,000 after acquiring an additional 38 shares during the period. Waddell & Associates LLC grew its holdings in shares of Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. increased its position in shares of Broadcom by 1.3% in the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares during the period. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. UBS Group set a $415.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research report on Tuesday. Bank of America upped their price target on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Rosenblatt Securities lifted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Argus boosted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Finally, Weiss Ratings downgraded Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. 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. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus price target of $372.33.

Broadcom Trading Down 1.4%

NASDAQ AVGO opened at $349.33 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company has a market cap of $1.65 trillion, a price-to-earnings ratio of 89.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The business's fifty day moving average is $327.73 and its 200 day moving average is $269.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.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 prior year, the firm earned $1.24 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total value of $280,120.00. Following the completion of the transaction, the director directly owned 22,182 shares in the company, valued at approximately $7,767,027.30. This represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by insiders.

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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