Strategic Planning Group LLC Raises Holdings in Broadcom Inc. $AVGO

Key Points

• Strategic Planning Group LLC increased its holdings in Broadcom Inc. by 22.6% during the second quarter, owning 27,744 shares valued at $7,648,000.
• Multiple hedge funds, including Masso Torrence Wealth Management and Painted Porch Advisors, have also increased their positions in Broadcom, reflecting growing institutional interest.
• Broadcom's CFO recently sold shares worth over $2.6 million, indicating a 2.34% decrease in ownership, amidst a backdrop of significant insider trading activity.

Strategic Planning Group LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 27,744 shares of the semiconductor manufacturer's stock after purchasing an additional 5,121 shares during the period. Broadcom accounts for about 1.2% of Strategic Planning Group LLC's holdings, making the stock its 24th biggest holding. Strategic Planning Group LLC's holdings in Broadcom were worth $7,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Masso Torrence Wealth Management Inc. increased its position in Broadcom by 8.7% during the second quarter. Masso Torrence Wealth Management Inc. now owns 25,714 shares of the semiconductor manufacturer's stock worth $7,088,000 after buying an additional 2,068 shares during the period. Sweeney & Michel LLC purchased a new position in shares of Broadcom during the second quarter worth approximately $304,000. Painted Porch Advisors LLC increased its holdings in shares of Broadcom by 37.3% in the 2nd quarter. Painted Porch Advisors LLC now owns 1,008 shares of the semiconductor manufacturer's stock valued at $278,000 after acquiring an additional 274 shares during the period. Main Line Retirement Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $252,000. Finally, Lewis Asset Management LLC raised its position in Broadcom by 31.9% in the 2nd quarter. Lewis Asset Management LLC now owns 13,568 shares of the semiconductor manufacturer's stock valued at $3,740,000 after purchasing an additional 3,285 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $360.00, for a total value of $288,000.00. Following the completion of the transaction, the director directly owned 22,982 shares of the company's stock, valued at approximately $8,273,520. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 240,274 shares worth $78,571,804. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Barclays upped their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, Macquarie began coverage on Broadcom in a research note on Monday, September 15th. They set an "outperform" rating and a $420.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $356.48.

Broadcom Trading Up 0.0%

NASDAQ:AVGO opened at $338.94 on Wednesday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a fifty day simple moving average of $310.48 and a 200-day simple moving average of $249.83. The company has a market capitalization of $1.60 trillion, a PE ratio of 86.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. The firm had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.

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