Focus Partners Wealth Buys 313,404 Shares of Broadcom Inc. $AVGO

Key Points

• Focus Partners Wealth increased its stake in Broadcom by 46.8%, acquiring 313,404 shares, bringing its total holdings to approximately $164.68 million.
• Broadcom's stock has received favorable ratings from analysts, with a consensus rating of "Buy" and an average price target of $351.92.
• A quarterly dividend of $0.59 per share has been declared, with the payout date set for September 30th, contributing to an annualized yield of 0.7%.

Focus Partners Wealth grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 46.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 983,561 shares of the semiconductor manufacturer's stock after purchasing an additional 313,404 shares during the quarter. Focus Partners Wealth's holdings in Broadcom were worth $164,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom in the 1st quarter worth $25,000. Inlight Wealth Management LLC acquired a new stake in shares of Broadcom during the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.1%

Shares of Broadcom stock traded up $0.24 on Friday, hitting $359.87. The company had a trading volume of 31,929,014 shares, compared to its average volume of 25,328,086. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. Broadcom Inc. has a twelve month low of $138.10 and a twelve month 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 stock has a 50-day moving average of $300.31 and a 200-day moving average of $241.98.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is currently 60.20%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the sale, the director directly owned 23,782 shares in the company, valued at approximately $7,312,013.72. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 850,912 shares valued at $234,854,489. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVGO shares. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Benchmark lifted their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Truist Financial boosted their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $354.04.

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.