Grant Private Wealth Management Inc Decreases Holdings in Broadcom Inc. $AVGO

Key Points

• Grant Private Wealth Management Inc significantly reduced its stake in Broadcom Inc., lowering its investment by 90.1% in the second quarter, resulting in holdings valued at $233,000 after selling 7,684 shares.
• Multiple hedge funds, including Barnes Dennig Private Wealth Management LLC and Cheviot Value Management LLC, acquired new positions in Broadcom during the first quarter, highlighting increasing institutional interest in the company.
• Broadcom recently announced a quarterly dividend of $0.59 per share, representing an annualized yield of 0.7%, with an ex-dividend date set for September 22nd.

Grant Private Wealth Management Inc trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 90.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 845 shares of the semiconductor manufacturer's stock after selling 7,684 shares during the period. Grant Private Wealth Management Inc's holdings in Broadcom were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom in the first quarter valued at approximately $26,000. Sawyer & Company Inc grew its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at $30,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Rosenblatt Securities boosted their target price 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. Evercore ISI reiterated an "outperform" rating and issued a $342.00 price objective (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Benchmark boosted their price target on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus price target of $356.48.

Broadcom Stock Down 1.8%

Shares of AVGO traded down $6.15 during trading hours on Monday, hitting $338.79. The company had a trading volume of 28,599,739 shares, compared to its average volume of 29,009,098. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.60 trillion, a PE ratio of 86.43, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. The company's fifty day moving average price is $309.32 and its two-hundred day moving average price is $249.20.

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. The firm had revenue of $15.95 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 16,558 shares of the business'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 owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 790,522 shares valued at $224,295,124. Insiders own 2.00% of the company's stock.

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.