Precedent Wealth Partners LLC Purchases 1,653 Shares of Broadcom Inc. $AVGO

Precedent Wealth Partners LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,716 shares of the semiconductor manufacturer's stock after acquiring an additional 1,653 shares during the quarter. Broadcom accounts for about 1.3% of Precedent Wealth Partners LLC's holdings, making the stock its 17th largest position. Precedent Wealth Partners LLC's holdings in Broadcom were worth $5,435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AVGO. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $28,000. Maseco LLP acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $34,000. PFS Partners LLC raised its holdings in shares of Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter worth approximately $25,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 2.7%

Shares of AVGO opened at $345.50 on Thursday. The firm has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 88.14, a PEG ratio of 1.86 and a beta of 1.20. 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 business's fifty day moving average price is $320.89 and its two-hundred day moving average price is $260.37. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 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 firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company earned $1.24 EPS. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a report on Tuesday, June 24th. Rosenblatt Securities raised their price target on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Truist Financial raised their price target on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Finally, Sanford C. Bernstein raised their price target on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Three 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $357.22.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.