Broadcom Inc. $AVGO is Pines Wealth Management LLC's 8th Largest Position

Key Points

• Pines Wealth Management LLC has increased its holdings in Broadcom Inc. by 5.9%, acquiring an additional 1,324 shares, bringing its total to 23,794 shares valued at approximately $6.5 million.
• Broadcom recently reported earnings of $1.69 per share, exceeding analysts' expectations and marking a 22% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $0.59 per share, representing an annual yield of 0.7%, with a payout ratio of 60.20%.

Pines Wealth Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,794 shares of the semiconductor manufacturer's stock after buying an additional 1,324 shares during the quarter. Broadcom accounts for approximately 2.3% of Pines Wealth Management LLC's investment portfolio, making the stock its 8th largest position. Pines Wealth Management LLC's holdings in Broadcom were worth $6,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Nuveen LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD increased 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 valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. GAMMA Investing LLC increased its position in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. increased its position in Broadcom by 16.7% during 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 purchasing an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG increased its position in Broadcom by 36.9% during 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 purchasing an additional 4,245,345 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. TD Cowen increased their target price on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Evercore ISI reissued an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Finally, Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $356.48.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, 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 can be accessed through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 840,522 shares worth $236,959,124. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 0.1%

Shares of AVGO stock traded down $0.41 during trading hours on Friday, hitting $344.94. 41,147,297 shares of the company were exchanged, compared to its average volume of 27,762,164. The firm has a market cap of $1.63 trillion, a P/E ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16. 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 company has a 50 day simple moving average of $308.05 and a two-hundred day simple moving average of $247.33.

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, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the firm posted $1.24 EPS. Broadcom's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a $0.59 dividend. 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%.

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.