Three Bridge Wealth Advisors LLC Purchases Shares of 3,667 Broadcom Inc. $AVGO

Key Points

• Three Bridge Wealth Advisors LLC acquired 3,667 shares of Broadcom Inc., valued at approximately $1,011,000, during the second quarter.
• Significant insider sales recently occurred, including one insider selling 16,558 shares for around $5.76 million, leading to a decrease in their ownership by 4.79%.
• Broadcom's quarterly earnings report exceeded estimates, with a revenue increase of 22% year-over-year, reporting $1.69 earnings per share against analysts' expectations of $1.66.

Three Bridge Wealth Advisors LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,667 shares of the semiconductor manufacturer's stock, valued at approximately $1,011,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after buying an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 in the last quarter. Nuveen LLC purchased a new position in Broadcom in the 1st quarter worth approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Broadcom by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred on 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 sale, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. In the last quarter, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $324.63 on Friday. The company's 50-day moving average price is $322.64 and its 200-day moving average price is $262.37. The company has a market cap of $1.53 trillion, a P/E ratio of 82.81, a P/E/G ratio of 1.91 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23.

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 for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Argus boosted their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Macquarie began coverage on Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Truist Financial lifted their price objective on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average 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.

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