Heritage Financial Services LLC Purchases 1,454 Shares of Broadcom Inc. $AVGO

Key Points

• Heritage Financial Services LLC has increased its stake in Broadcom Inc. by 24.7% during the 2nd quarter, owning a total of 7,331 shares valued at approximately $2,021,000.
• Broadcom has received multiple positive analyst ratings, with price targets raised by firms like Citigroup and Bank of America, indicating strong market confidence in the stock.
• The company reported a net revenue of $15.95 billion for the last quarter, surpassing analysts' expectations and demonstrating a 22% year-over-year increase in earnings per share.

Heritage Financial Services LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 24.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,331 shares of the semiconductor manufacturer's stock after purchasing an additional 1,454 shares during the quarter. Broadcom makes up 0.2% of Heritage Financial Services LLC's investment portfolio, making the stock its 26th largest holding. Heritage Financial Services LLC's holdings in Broadcom were worth $2,021,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom in the 1st quarter worth approximately $26,000. Sawyer & Company Inc lifted its holdings in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in Broadcom in the 2nd quarter worth approximately $28,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup upped their price target on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. KeyCorp reiterated an "overweight" rating and set a $420.00 price target (up from $400.00) on shares of Broadcom in a report on Tuesday, September 30th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Bank of America upped their price target on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Macquarie initiated coverage on Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $357.22.

Broadcom Trading Up 0.1%

Shares of AVGO opened at $338.37 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The firm has a market capitalization of $1.60 trillion, a PE ratio of 86.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The stock's fifty day simple moving average is $318.43 and its 200-day simple moving average is $258.24.

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, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Company 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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