Dogwood Wealth Management LLC Trims Stake in Broadcom Inc. $AVGO

Key Points

• Dogwood Wealth Management LLC significantly reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 83% during the second quarter, owning only 1,242 shares after selling 6,070 shares.
• Broadcom reported a net income of $1.69 EPS for the last quarter, exceeding analysts' expectations, with revenues totaling $15.95 billion, a 22% increase year-over-year.
• Insider trading activities revealed that CEO Hock E. Tan sold 100,000 shares at an average price of $339.58, marking a 12.11% decrease in his holdings.

Dogwood Wealth Management LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 83.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,242 shares of the semiconductor manufacturer's stock after selling 6,070 shares during the quarter. Dogwood Wealth Management LLC's holdings in Broadcom were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. PARUS FINANCE UK Ltd lifted its stake in Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after purchasing an additional 13,978 shares during the last quarter. Asio Capital LLC lifted its stake in Broadcom by 2.0% during the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock worth $15,012,000 after purchasing an additional 1,089 shares during the last quarter. Keener Financial Planning LLC lifted its stake in Broadcom by 34.8% during the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.1%

AVGO stock opened at $338.37 on Monday. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The business's 50 day moving average price is $318.43 and its two-hundred day moving average price is $258.24. 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 company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for 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 quarter in the prior year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 60.20%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the insider owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. JPMorgan Chase & Co. boosted their target price on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. KeyCorp reissued an "overweight" rating and issued a $420.00 target price (up previously from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. TD Cowen boosted their target price on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Morgan Stanley boosted their target price on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $357.22.

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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