Broadcom Inc. $AVGO Shares Acquired by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,442 shares of the semiconductor manufacturer’s stock after buying an additional 337 shares during the quarter. Broadcom comprises 2.4% of Riverbend Wealth Management LLC’s holdings, making the stock its 9th biggest position. Riverbend Wealth Management LLC’s holdings in Broadcom were worth $3,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Sawyer & Company Inc lifted its stake in shares of Broadcom by 62.1% during the second 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. PFS Partners LLC lifted its stake in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 38 shares during the period. Costello Asset Management INC increased its stake in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after acquiring an additional 38 shares during the last quarter. Waddell & Associates LLC increased its stake in shares of Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock valued at $350,000 after acquiring an additional 43 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. lifted its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock worth $939,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Piper Sandler increased their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Bank of America increased their price target on shares of Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. UBS Group set a $415.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Arete Research raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $372.52.

Broadcom Stock Up 1.2%

Shares of NASDAQ:AVGO opened at $344.29 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The stock has a market capitalization of $1.63 trillion, a P/E ratio of 87.83, a PEG ratio of 1.92 and a beta of 1.20. The stock has a 50-day simple moving average of $330.52 and a 200-day simple moving average of $273.74.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $15.82 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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 dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is 60.20%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business’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 transaction of $1,354,063.26. Following the transaction, the insider directly 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Insiders own 2.00% of the company’s stock.

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.