Old Port Advisors Sells 1,147 Shares of Broadcom Inc. $AVGO

Key Points

• Old Port Advisors decreased its stake in Broadcom Inc. by 4.8%, now holding 22,574 shares valued at approximately $6.22 million, making it the 12th largest position in their portfolio.
• Multiple analysts have increased their price targets for Broadcom, with recommendations ranging from $345 to $400, indicating a strong outlook for the company's stock.
• Broadcom recently declared a quarterly dividend of $0.59 per share, representing an annualized yield of 0.7% and a payout ratio of 60.2%.

Old Port Advisors reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,574 shares of the semiconductor manufacturer's stock after selling 1,147 shares during the quarter. Broadcom comprises about 1.7% of Old Port Advisors' investment portfolio, making the stock its 12th biggest position. Old Port Advisors' holdings in Broadcom were worth $6,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sawyer & Company Inc raised its holdings in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new stake in Broadcom during the 2nd quarter valued at $28,000. Maseco LLP purchased a new stake in Broadcom during the 2nd quarter valued at $34,000. PFS Partners LLC raised its holdings in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter valued at $25,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. KeyCorp increased their price target on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Oppenheimer reiterated an "outperform" rating and issued a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. UBS Group increased their target price on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Bank of America increased their target price on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note 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 one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $356.48.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares in the company, 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 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 owned by corporate insiders.

Broadcom Price Performance

AVGO opened at $327.90 on Tuesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The business's fifty day simple moving average is $314.46 and its 200-day simple moving average is $254.25. The company has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 83.65, a PEG ratio of 1.85 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 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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