Mattern Wealth Management LLC Trims Stake in Broadcom Inc. $AVGO

Key Points

• Mattern Wealth Management LLC reduced its stake in Broadcom Inc. by 76.2%, owning only 7,410 shares after selling 23,709 shares in the second quarter.
• Broadcom reported a quarterly earnings per share of $1.69, exceeding expectations, with revenue of $15.95 billion, showing a 22% year-over-year increase.
• The company announced a quarterly dividend of $0.59 per share, resulting in an annualized dividend yield of 0.7% and a payout ratio of 60.20%.

Mattern Wealth Management LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 76.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,410 shares of the semiconductor manufacturer's stock after selling 23,709 shares during the quarter. Mattern Wealth Management LLC's holdings in Broadcom were worth $2,043,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. PARUS FINANCE UK Ltd lifted its stake 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 worth $16,840,000 after purchasing an additional 64,038 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock worth $10,737,000 after purchasing an additional 13,978 shares during the period. Asio Capital LLC lifted its stake in shares of Broadcom by 2.0% during the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer's stock worth $15,012,000 after purchasing an additional 1,089 shares during the period. Keener Financial Planning LLC lifted its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares during the period. Finally, Diversify Wealth Management LLC lifted its stake in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.1%

Shares of Broadcom stock opened at $338.37 on Friday. The business has a 50-day moving average of $318.43 and a 200-day moving average of $257.34. 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 company has a market capitalization of $1.60 trillion, a PE ratio of 86.32, a P/E/G ratio of 1.87 and a beta of 1.20. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its 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 the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's revenue was up 22.0% on a year-over-year basis. During the same period 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 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company's stock, valued at $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 acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup increased their price target on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Mizuho upped their price objective on Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. KeyCorp restated an "overweight" rating and set a $420.00 price objective (up from $400.00) on shares of Broadcom in a report on Tuesday. Finally, Oppenheimer restated an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $357.22.

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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