Meredith Wealth Planning Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Meredith Wealth Planning has acquired a new position in Broadcom Inc. (NASDAQ: AVGO), purchasing 819 shares valued at approximately $226,000 in the second quarter of the year.
• Broadcom reported a Q4 earnings per share (EPS) of $1.69, exceeding expectations, with a revenue of $15.95 billion, a year-over-year increase of 22%.
• The recent quarterly dividend declared by Broadcom is $0.59 per share, reflecting an annual yield of 0.7% and a dividend payout ratio of 60.20%.

Meredith Wealth Planning acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 819 shares of the semiconductor manufacturer's stock, valued at approximately $226,000.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Nuveen LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD lifted its position in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after buying an additional 4,550,647 shares during the period. Deutsche Bank AG lifted its holdings in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after buying an additional 4,077,910 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock opened at $327.90 on Tuesday. The stock has a fifty day moving average price of $314.46 and a 200 day moving average price of $254.25. The stock has a market cap of $1.55 trillion, a PE ratio of 83.65, a P/E/G ratio of 1.85 and a beta of 1.16. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping 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%.Broadcom's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Evercore ISI reissued an "outperform" rating and issued a $342.00 price target (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Barclays raised their price target on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, Truist Financial raised their price target on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $356.48.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the firm's 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 completion of the transaction, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by corporate 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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