RWQ Financial Management Services Inc. Sells 12,865 Shares of Broadcom Inc. $AVGO

Key Points

• RWQ Financial Management Services Inc. reduced its stake in Broadcom Inc. by 23.7%, selling 12,865 shares to hold a total of 41,360 shares, worth approximately $11.4 million.
• Broadcom reported $1.69 earnings per share for the quarter, exceeding expectations and showing a 22.0% year-over-year revenue growth.
• Multiple brokerages have increased their price targets for Broadcom, with KeyCorp setting a target at $460, indicating a potential upside of over 30%.

RWQ Financial Management Services Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,360 shares of the semiconductor manufacturer's stock after selling 12,865 shares during the period. Broadcom accounts for approximately 4.8% of RWQ Financial Management Services Inc.'s investment portfolio, making the stock its 10th largest holding. RWQ Financial Management Services Inc.'s holdings in Broadcom were worth $11,401,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Hoese & Co LLP increased its position in Broadcom by 142.9% in the second quarter. Hoese & Co LLP now owns 170 shares of the semiconductor manufacturer's stock worth $47,000 after buying an additional 100 shares during the period. Kondo Wealth Advisors Inc. increased its position in Broadcom by 5.0% in the second quarter. Kondo Wealth Advisors Inc. now owns 1,346 shares of the semiconductor manufacturer's stock worth $356,000 after buying an additional 64 shares during the period. Huntleigh Advisors Inc. increased its position in Broadcom by 0.9% in the second quarter. Huntleigh Advisors Inc. now owns 66,251 shares of the semiconductor manufacturer's stock worth $18,262,000 after buying an additional 623 shares during the period. Kanawha Capital Management LLC increased its position in Broadcom by 7.6% in the second quarter. Kanawha Capital Management LLC now owns 28,951 shares of the semiconductor manufacturer's stock worth $7,980,000 after buying an additional 2,038 shares during the period. Finally, Nicholson Wealth Management Group LLC increased its position in Broadcom by 2.0% in the second quarter. Nicholson Wealth Management Group LLC now owns 8,339 shares of the semiconductor manufacturer's stock worth $2,299,000 after buying an additional 167 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 1.2%

Shares of AVGO stock opened at $344.29 on Friday. The stock has a 50-day simple moving average of $330.52 and a 200 day simple moving average of $273.74. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The stock has a market capitalization of $1.63 trillion, a P/E ratio of 87.83, a P/E/G ratio of 1.92 and a beta of 1.20. 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 announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVGO. Evercore ISI increased their target price on Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 15th. 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. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 8th. KeyCorp set a $460.00 price target on Broadcom in a report on Monday, October 13th. Finally, Mizuho set a $435.00 price target on Broadcom and gave the company an "outperform" rating in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $372.52.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company's stock.

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.

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