Morton Brown Family Wealth LLC Cuts Stock Position in Broadcom Inc. $AVGO

Key Points

• Morton Brown Family Wealth LLC reduced its stake in Broadcom Inc. by 14.8% in the second quarter, reducing its holdings to 5,387 shares valued at approximately $1.48 million.
• Several large institutional investors, including Vanguard Group and Price T Rowe Associates, have increased their positions in Broadcom, indicating strong interest in the stock.
• Broadcom's recent earnings report exceeded estimates with a revenue of $15.95 billion and an earnings per share (EPS) of $1.69, showcasing a 22% year-over-year increase.

Morton Brown Family Wealth LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,387 shares of the semiconductor manufacturer's stock after selling 935 shares during the period. Broadcom comprises 0.5% of Morton Brown Family Wealth LLC's investment portfolio, making the stock its 22nd biggest position. Morton Brown Family Wealth LLC's holdings in Broadcom were worth $1,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after buying an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 37.8% during the first 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 purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Broadcom during the first quarter worth approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Broadcom by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred 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 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. Over the last quarter, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,184,128. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Macquarie assumed coverage on shares of Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 target price for the company. Mizuho set a $430.00 price objective on shares of Broadcom in a research note on Monday. Benchmark upped their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Morgan Stanley set a $409.00 price target on Broadcom and gave the company an "overweight" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price target on Broadcom and gave the company a "buy" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $372.33.

Broadcom Trading Up 2.1%

Shares of Broadcom stock opened at $351.33 on Thursday. The firm has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 89.63, a PEG ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week 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. The stock has a 50 day moving average of $325.83 and a 200 day moving average of $266.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The business 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%.The company's revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is 60.20%.

About Broadcom

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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