Morey & Quinn Wealth Partners LLC Invests $208,000 in Broadcom Inc. $AVGO

Key Points

• Morey & Quinn Wealth Partners LLC invested approximately $208,000 in Broadcom Inc. by acquiring 755 shares during the second quarter.
• A range of institutional investors, including Nuveen LLC and Price T Rowe Associates Inc., have significantly increased their stakes in Broadcom, highlighting growing confidence in the company.
• Broadcom reported a 22% year-over-year revenue growth for its most recent quarter, exceeding analysts' consensus estimates.

Morey & Quinn Wealth Partners LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 755 shares of the semiconductor manufacturer's stock, valued at approximately $208,000.

A number of other hedge funds also recently modified their holdings of the business. Nuveen LLC acquired a new stake in Broadcom in the 1st quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD raised its position in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. raised its position in 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 last quarter. Deutsche Bank AG raised its position in 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 last quarter. Finally, Alliancebernstein L.P. raised its position in 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 last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVGO. Truist Financial lifted their target price on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Mizuho set a $430.00 price target on Broadcom in a research report on Monday. Rosenblatt Securities boosted their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $359.44.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $356.70 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.37 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 stock has a 50 day moving average of $323.82 and a 200-day moving average of $264.90. The company has a market capitalization of $1.68 trillion, a P/E ratio of 90.99, a P/E/G ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping 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 company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the previous year, the company posted $1.24 EPS. 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, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's payout ratio is currently 60.20%.

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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