Woodmont Investment Counsel LLC Has $36.04 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Woodmont Investment Counsel LLC increased its stake in Broadcom Inc. by 1.6% in Q2, holding 130,740 shares worth approximately $36.04 million, making it the 8th largest holding in their portfolio.
• Analysts have recently upgraded Broadcom's rating from "hold" to "buy," with price targets ranging from $345 to $400, reflecting positive sentiment towards the company's stock.
• Broadcom reported better-than-expected quarterly earnings, with an EPS of $1.69 and revenue of $15.95 billion, showing a 22% increase compared to the previous year.

Woodmont Investment Counsel LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,740 shares of the semiconductor manufacturer's stock after acquiring an additional 2,032 shares during the quarter. Broadcom accounts for about 2.4% of Woodmont Investment Counsel LLC's investment portfolio, making the stock its 8th largest holding. Woodmont Investment Counsel LLC's holdings in Broadcom were worth $36,038,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom during the first quarter worth about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter worth about $26,000. Sawyer & Company Inc boosted its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Broadcom during the second quarter worth about $28,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Wells Fargo & Company upped their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Rosenblatt Securities upped their price objective on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average target price of $357.22.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $324.63 on Friday. The stock has a 50 day moving average price of $322.64 and a 200 day moving average price of $262.37. 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 stock has a market capitalization of $1.53 trillion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20.

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 the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. 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. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Profile

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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