HB Wealth Management LLC Increases Stake in Broadcom Inc. $AVGO

Key Points

• HB Wealth Management LLC has increased its stake in Broadcom Inc. by 9.2%, owning 212,926 shares valued at approximately $58.7 million as of the end of the recent quarter.
• Broadcom has received optimistic analyst ratings, with several firms raising their price targets significantly, including Piper Sandler and Barclays, both setting targets above $375.
• Following a recent earnings report, Broadcom declared a quarterly dividend of $0.59 per share, with a dividend yield of 0.7% and a payout ratio of 60.20%.

HB Wealth Management LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,926 shares of the semiconductor manufacturer's stock after buying an additional 17,924 shares during the period. HB Wealth Management LLC's holdings in Broadcom were worth $58,693,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Sawyer & Company Inc increased its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. PFS Partners LLC increased its stake in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 38 shares during the period. Waddell & Associates LLC increased its stake in 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 buying an additional 43 shares during the period. Luts & Greenleigh Group Inc. increased its position in shares of Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after purchasing an additional 44 shares during the last quarter. Finally, Challenger Wealth Management increased its position in shares of Broadcom by 1.3% in the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after purchasing an additional 45 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Barclays increased their price objective on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $357.22.

Broadcom Trading Up 1.4%

Shares of Broadcom stock opened at $338.18 on Friday. The company has a fifty day simple moving average of $317.47 and a 200-day simple moving average of $256.30. Broadcom Inc. has a 12-month low of $138.10 and a 12-month 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 stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.27, a PEG ratio of 1.85 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 for the quarter, topping analysts' consensus estimates 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 net margin of 31.59% and a return on equity of 36.60%. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction on 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on 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 sale, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 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 company 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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