Broadcom Inc. $AVGO is Mccarter Private Wealth Services LLC’s Largest Position

Mccarter Private Wealth Services LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 9.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 50,010 shares of the semiconductor manufacturer’s stock after selling 5,487 shares during the quarter. Broadcom makes up about 7.9% of Mccarter Private Wealth Services LLC’s holdings, making the stock its largest holding. Mccarter Private Wealth Services LLC’s holdings in Broadcom were worth $13,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sawyer & Company Inc increased its holdings in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Legend Financial Advisors Inc. purchased a new stake in Broadcom in the 2nd quarter worth approximately $28,000. LGT Financial Advisors LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $31,000. Maseco LLP purchased a new stake in Broadcom in the 2nd quarter worth approximately $34,000. Finally, PFS Partners LLC boosted its stake in Broadcom by 38.4% in 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 period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 2.0%

NASDAQ AVGO opened at $358.98 on Thursday. 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 capitalization of $1.70 trillion, a P/E ratio of 91.58, a P/E/G ratio of 1.42 and a beta of 1.19. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. The stock has a 50 day moving average price of $342.93 and a 200-day moving average price of $287.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a $0.59 dividend. 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 dividend payout ratio (DPR) is currently 60.20%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction 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 in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Argus upped their price target on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Oppenheimer restated an “outperform” rating and issued a $360.00 price target (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. KeyCorp set a $460.00 price target on Broadcom in a research note on Monday, October 13th. UBS Group set a $415.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Sanford C. Bernstein upped their price target on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $372.52.

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.