Sagespring Wealth Partners LLC Boosts Stake in Broadcom Inc. $AVGO

Key Points

• Sagespring Wealth Partners LLC increased its stake in Broadcom Inc. by 16.7%, acquiring an additional 12,196 shares, bringing its total holdings to 85,291 shares worth approximately $23.5 million.
• Numerous institutional investors have also made significant changes to their positions in Broadcom, with Nuveen LLC purchasing a stake valued at roughly $6.65 billion and Goldman Sachs increasing its holdings by 16.7%.
• The stock received multiple upgrades from analysts, with price targets ranging from $345 to $409, reflecting a generally positive outlook on Broadcom's performance.

Sagespring Wealth Partners LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,291 shares of the semiconductor manufacturer's stock after buying an additional 12,196 shares during the period. Sagespring Wealth Partners LLC's holdings in Broadcom were worth $23,510,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Nuveen LLC purchased a new stake in Broadcom in the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the period. Deutsche Bank AG raised its holdings in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 7,498 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Morgan Stanley set a $409.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft set a $400.00 price target on shares of Broadcom and gave the stock a "buy" rating in a report on Tuesday, October 14th. Benchmark lifted their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Three research 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. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average target price of $372.33.

Broadcom Stock Down 0.0%

Shares of NASDAQ:AVGO opened at $349.24 on Tuesday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a market cap of $1.65 trillion, a price-to-earnings ratio of 89.09, a PEG ratio of 1.97 and a beta of 1.20. The firm has a fifty day moving average price of $328.64 and a two-hundred day moving average price of $271.47.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. 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 Dividend Announcement

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

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