Trust Point Inc. Has $8.52 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Trust Point Inc. reduced its holdings in Broadcom Inc. by 3.9% in Q2, owning 30,910 shares valued at approximately $8.52 million at the end of the quarter.
• Institutional investors collectively own 76.43% of Broadcom shares, with various firms increasing their stakes significantly in the first quarter of 2023.
• Broadcom's stock has received multiple price target increases from analysts, with the average target now at $356.48 and a predominantly Buy rating from research analysts.

Trust Point Inc. cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,910 shares of the semiconductor manufacturer's stock after selling 1,261 shares during the quarter. Broadcom comprises approximately 0.8% of Trust Point Inc.'s holdings, making the stock its 16th largest position. Trust Point Inc.'s holdings in Broadcom were worth $8,520,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. PARUS FINANCE UK Ltd lifted its stake in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after acquiring an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Keener Financial Planning LLC lifted its stake in Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares during the last quarter. Finally, Acorns Advisers LLC lifted its stake in shares of Broadcom by 24.3% in the first quarter. Acorns Advisers LLC now owns 4,184 shares of the semiconductor manufacturer's stock worth $701,000 after buying an additional 818 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVGO shares. Piper Sandler boosted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Mizuho boosted their price objective on shares of Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Oppenheimer restated an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average target price of $356.48.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $360.00, for a total value of $288,000.00. Following the sale, the director owned 22,982 shares of the company's stock, valued at $8,273,520. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 840,522 shares valued at $236,959,124. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $344.94 on Friday. The firm's 50-day moving average is $308.05 and its 200-day moving average is $247.33. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 87.99, a PEG ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm 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 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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