Plancorp LLC Increases Stock Position in Broadcom Inc. $AVGO

Key Points

• Plancorp LLC increased its stake in Broadcom Inc. by 31.7%, acquiring an additional 2,598 shares in Q1, bringing its total holdings to 10,791 shares valued at approximately $1.8 million.
• Insider selling was noted as Broadcom's CFO Kirsten M. Spears sold over 56,000 shares for more than $14 million, representing a 13.46% decrease in her ownership.
• Broadcom's stock has recently appreciated by 9.4% and analysts have given it a consensus Buy rating, with an average target price of around $351.00.

Plancorp LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,791 shares of the semiconductor manufacturer's stock after purchasing an additional 2,598 shares during the period. Plancorp LLC's holdings in Broadcom were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter worth approximately $30,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $25,000. Finally, Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. Rosenblatt Securities boosted their price objective on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday. Benchmark upped their price objective on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley upped their price target on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. TD Cowen upped their price target on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $351.00.

Broadcom Stock Performance

Shares of AVGO stock traded up $28.79 during mid-day trading on Friday, hitting $334.89. 78,318,626 shares of the stock were exchanged, compared to its average volume of 20,932,260. The stock's fifty day simple moving average is $292.09 and its two-hundred day simple moving average is $237.38. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $356.34. 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 announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given 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 is Monday, September 22nd. Broadcom's payout ratio is currently 60.20%.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by corporate insiders.

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.