Verus Financial Partners Inc. Buys New Position in Broadcom Inc. $AVGO

Key Points

• Verus Financial Partners Inc. has acquired a new stake in Broadcom Inc., purchasing 1,137 shares valued at approximately $316,000 during the second quarter of the year.
• Broadcom reported a 22.0% increase in revenue year-over-year, with earnings per share (EPS) of $1.69 for the most recent quarter, surpassing analyst expectations.
• The company has recently announced a dividend of $0.59 per share, with a current yield of 0.7% and a payout ratio of 60.20%.

Verus Financial Partners Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 1,137 shares of the semiconductor manufacturer's stock, valued at approximately $316,000.

Other hedge funds have also modified their holdings of the company. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $28,000. Maseco LLP purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $34,000. PFS Partners LLC increased its holdings in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $25,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO opened at $336.41 on Wednesday. The firm has a market cap of $1.59 trillion, a price-to-earnings ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20. The stock has a 50 day moving average of $320.03 and a 200-day moving average of $259.78. 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 52 week low of $138.10 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. Weiss Ratings restated a "buy (b-)" rating on shares of Broadcom in a report on Saturday, September 27th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Bank of America lifted their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Wells Fargo & Company lifted their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Finally, Argus lifted their price objective on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average 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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