Hudson Valley Investment Advisors Inc. ADV cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,115 shares of the semiconductor manufacturer's stock after selling 1,259 shares during the quarter. Broadcom accounts for about 1.8% of Hudson Valley Investment Advisors Inc. ADV's investment portfolio, making the stock its 14th largest holding. Hudson Valley Investment Advisors Inc. ADV's holdings in Broadcom were worth $16,019,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. PARUS FINANCE UK Ltd lifted its holdings in shares of Broadcom by 175.3% during 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 last quarter. Geneos Wealth Management Inc. raised its position in Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after acquiring an additional 13,978 shares in the last quarter. Asio Capital LLC raised its position in Broadcom by 2.0% during the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock valued at $15,012,000 after acquiring an additional 1,089 shares in the last quarter. Keener Financial Planning LLC lifted its stake in Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after acquiring an additional 2,016 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
Broadcom Stock Up 2.7%
Shares of AVGO opened at $345.50 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $320.89 and a two-hundred day moving average price of $260.37. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 88.14, a P/E/G ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 dividend yield of 0.7%. Broadcom's payout ratio is presently 60.20%.
Insider Activity at Broadcom
In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the 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 transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% 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, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred 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 transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 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 insiders.
Analyst Upgrades and Downgrades
AVGO has been the topic of several analyst reports. Weiss Ratings downgraded shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Morgan Stanley upped their price target on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. The Goldman Sachs Group reissued a "buy" rating and set a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. KeyCorp restated an "overweight" rating and issued a $420.00 target price (up from $400.00) on shares of Broadcom in a report on Tuesday, September 30th. Finally, Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $357.22.
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About Broadcom
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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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