Praxis Investment Management Inc. Has $31.14 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Praxis Investment Management Inc. reduced its holdings in Broadcom Inc. by 3.6% in the second quarter, owning 112,950 shares valued at approximately $31.14 million, making it the firm's 10th largest holding.
• Broadcom's stock has garnered positive analyst attention, with multiple brokerages setting price targets between $360.00 and $460.00, contributing to an average target of $372.52.
• Broadcom recently announced a $0.59 quarterly dividend, which represents an annualized yield of 0.7% with a dividend payout ratio of 60.20%.

Praxis Investment Management Inc. reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,950 shares of the semiconductor manufacturer's stock after selling 4,270 shares during the quarter. Broadcom accounts for about 2.0% of Praxis Investment Management Inc.'s investment portfolio, making the stock its 10th largest holding. Praxis Investment Management Inc.'s holdings in Broadcom were worth $31,135,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AVGO. Brighton Jones LLC increased its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares in the last quarter. GAMMA Investing LLC raised its position in Broadcom by 9.2% in the 1st quarter. GAMMA Investing LLC now owns 103,184 shares of the semiconductor manufacturer's stock valued at $17,276,000 after buying an additional 8,672 shares during the last quarter. Consolidated Portfolio Review Corp raised its position in Broadcom by 5.8% in the 1st quarter. Consolidated Portfolio Review Corp now owns 3,761 shares of the semiconductor manufacturer's stock valued at $630,000 after buying an additional 206 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in Broadcom by 1.9% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 2,737,242 shares of the semiconductor manufacturer's stock valued at $458,296,000 after buying an additional 52,107 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. UBS Group set a $415.00 target price on Broadcom and gave the company a "buy" rating in a research report on Tuesday, October 14th. Oppenheimer reissued an "outperform" rating and issued a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Piper Sandler lifted their target price on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price target on Broadcom and gave the company a "buy" rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and an average price target of $372.52.

Broadcom Stock Down 0.7%

AVGO stock opened at $340.30 on Thursday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 86.81, a P/E/G ratio of 1.93 and a beta of 1.20. The business has a 50 day moving average price of $329.86 and a two-hundred day moving average price of $272.43. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same period last year, the firm posted $1.24 earnings per share. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director directly owned 22,182 shares of the company's stock, valued at approximately $7,767,027.30. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company's stock.

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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