Wealth Enhancement Advisory Services LLC Acquires 107,570 Shares of Broadcom Inc. $AVGO

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Broadcom Inc. by 12.6% in Q2, acquiring an additional 107,570 shares, bringing its total to 960,695 shares valued at approximately $264 million.
• CEO Hock E. Tan sold 148,154 shares for over $49 million, which represents a 15.21% reduction in his position, while insider sales totalled approximately $237 million in the last ninety days.
• Broadcom received multiple price target upgrades from analysts, raising expectations with targets reaching as high as $400, reflecting a strong "buy" sentiment among 29 out of 33 analysts.

Wealth Enhancement Advisory Services LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 960,695 shares of the semiconductor manufacturer's stock after acquiring an additional 107,570 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Broadcom were worth $264,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Sawyer & Company Inc increased its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Sunbeam Capital Management LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the 1st quarter worth approximately $25,000. Finally, Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter valued at $25,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $360.00, for a total transaction of $288,000.00. Following the sale, the director owned 22,982 shares in the company, valued at approximately $8,273,520. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 790,522 shares valued at $224,295,124. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

AVGO stock traded down $4.91 during mid-day trading on Monday, hitting $339.44. The company had a trading volume of 16,399,772 shares, compared to its average volume of 26,399,619. 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 firm has a market cap of $1.60 trillion, a PE ratio of 86.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The stock's fifty day moving average price is $308.05 and its two-hundred day moving average price is $248.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. Broadcom's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 60.20%.

Analyst Ratings Changes

AVGO has been the topic of a number of research reports. Citigroup upped their price target on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Bank of America lifted their price target on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Macquarie began coverage on Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 target price on the stock. Finally, Benchmark upped their price target on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $356.48.

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.