IMG Wealth Management Inc. Acquires Shares of 281 Broadcom Inc. $AVGO

IMG Wealth Management Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, Holdings Channel.com reports. The firm acquired 281 shares of the semiconductor manufacturer’s stock, valued at approximately $77,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares during the period. 3Chopt Investment Partners LLC grew its position in shares of Broadcom by 0.5% during the 1st quarter. 3Chopt Investment Partners LLC now owns 27,726 shares of the semiconductor manufacturer’s stock valued at $4,642,000 after acquiring an additional 143 shares during the period. Gold Investment Management Ltd. grew its position in shares of Broadcom by 5.9% during the 1st quarter. Gold Investment Management Ltd. now owns 5,723 shares of the semiconductor manufacturer’s stock valued at $958,000 after acquiring an additional 321 shares during the period. Finally, Jag Capital Management LLC grew its position in shares of Broadcom by 32.1% during the 1st quarter. Jag Capital Management LLC now owns 119,788 shares of the semiconductor manufacturer’s stock valued at $20,056,000 after acquiring an additional 29,103 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America raised their target price on Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. KeyCorp set a $460.00 price objective on Broadcom in a report on Monday, October 13th. 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. 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. Finally, Mizuho set a $435.00 price objective on Broadcom and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $372.52.

Broadcom Trading Up 2.9%

Shares of Broadcom stock opened at $354.13 on Monday. The stock has a market cap of $1.67 trillion, a P/E ratio of 90.34, a P/E/G ratio of 1.99 and a beta of 1.20. The stock’s 50 day simple moving average is $331.47 and its 200-day simple moving average is $276.57. 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) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In other news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 368,797 shares of the business’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 in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by corporate insiders.

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.