Equitable Trust Co. Buys 9,575 Shares of Broadcom Inc. $AVGO

Key Points

• Equitable Trust Co. increased its stake in Broadcom Inc. by 19.4%, owning a total of 58,944 shares valued at approximately $16.25 million after acquiring an additional 9,575 shares.
• Broadcom has received positive analyst ratings, with price targets raised by multiple firms, including Citigroup's target of $415.00 and Barclays' target of $450.00.
• The company declared a quarterly dividend of $0.59 per share, maintaining a 60.20% dividend payout ratio with an annual yield of 0.7%.

Equitable Trust Co. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,944 shares of the semiconductor manufacturer's stock after acquiring an additional 9,575 shares during the quarter. Equitable Trust Co.'s holdings in Broadcom were worth $16,248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. PARUS FINANCE UK Ltd increased its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after buying an additional 64,038 shares during the period. Geneos Wealth Management Inc. increased its holdings in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after buying an additional 13,978 shares during the period. Asio Capital LLC increased its holdings in Broadcom by 2.0% in the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock valued at $15,012,000 after buying an additional 1,089 shares during the period. Keener Financial Planning LLC increased its holdings in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares during the period. Finally, Diversify Wealth Management LLC increased its holdings in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares during the period. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Citigroup reissued a "buy" rating and issued a $415.00 price target (up previously from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Sanford C. Bernstein boosted their price target on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Barclays set a $450.00 price target on shares of Broadcom and gave the company an "overweight" rating in a report on Tuesday, October 14th. Argus boosted their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Finally, Mizuho set a $430.00 target price on shares of Broadcom in a research note on Monday, October 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $372.33.

Broadcom Stock Down 0.0%

Shares of NASDAQ:AVGO opened at $349.24 on Tuesday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. 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's fifty day moving average is $328.64 and its 200-day moving average is $271.47. The company has a market capitalization of $1.65 trillion, a PE ratio of 89.09, a P/E/G ratio of 1.97 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared 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 is 60.20%.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the company's 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 transaction, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the company's 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 transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 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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