Truist Financial Corp Boosts Position in Broadcom Inc. $AVGO

Key Points

• Truist Financial Corp increased its stake in Broadcom Inc. by 1.8% in the second quarter, owning nearly 2.96 million shares, valued at approximately $817 million, making it the firm's 13th largest position.
• Broadcom reported $1.69 earnings per share (EPS) for its latest quarter, surpassing expectations, with a 22% increase in revenue year-over-year, reaching $15.95 billion.
• The company recently declared a quarterly dividend of $0.59 per share, yielding around 0.7%, with a payout ratio of 60.20%.

Truist Financial Corp raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,964,271 shares of the semiconductor manufacturer's stock after buying an additional 52,124 shares during the period. Broadcom comprises 1.2% of Truist Financial Corp's investment portfolio, making the stock its 13th largest position. Truist Financial Corp owned 0.06% of Broadcom worth $817,101,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AVGO. Broadway Wealth Solutions Inc. raised its stake in shares of Broadcom by 3.5% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 2,979 shares of the semiconductor manufacturer's stock valued at $821,000 after acquiring an additional 101 shares during the period. Powers Advisory Group LLC boosted its position in Broadcom by 11.7% during the 2nd quarter. Powers Advisory Group LLC now owns 1,496 shares of the semiconductor manufacturer's stock worth $412,000 after purchasing an additional 157 shares during the period. Bourgeon Capital Management LLC acquired a new stake in Broadcom in the 2nd quarter valued at $579,000. Bosman Wealth Management LLC purchased a new position in Broadcom in the second quarter valued at about $3,178,000. Finally, Hansen & Associates Financial Group Inc. acquired a new position in shares of Broadcom during the second quarter worth about $1,405,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock opened at $338.37 on Friday. The firm has a fifty day moving average of $318.43 and a two-hundred day moving average of $257.34. The firm has a market cap of $1.60 trillion, a P/E ratio of 86.32, a P/E/G ratio of 1.87 and a beta of 1.20. Broadcom Inc. has a 1-year low of $138.10 and a 1-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.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The business 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 company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom 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 directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial increased their target price on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Wells Fargo & Company upped their price target on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Sanford C. Bernstein lifted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Citigroup boosted their target price on shares of Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus target price 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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