Broadcom Inc. $AVGO Stock Sold by Capstone Wealth Management Group LLC

Capstone Wealth Management Group LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,695 shares of the semiconductor manufacturer’s stock after selling 3,502 shares during the period. Broadcom accounts for approximately 5.9% of Capstone Wealth Management Group LLC’s investment portfolio, making the stock its 3rd biggest holding. Capstone Wealth Management Group LLC’s holdings in Broadcom were worth $13,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Broadcom by 8.7% during the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after acquiring an additional 16,651,378 shares in the last quarter. Bank of America Corp DE grew its position in Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock valued at $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP increased its stake in Broadcom by 3.8% during the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after purchasing an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Broadcom by 2.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer’s stock worth $15,178,195,000 after buying an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Broadcom during the second quarter worth $11,998,148,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 4.8%

NASDAQ AVGO opened at $347.01 on Friday. The stock has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 44.32 and a beta of 1.49. Broadcom Inc. has a one year low of $289.77 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The business’s fifty day moving average is $345.39 and its 200-day moving average is $366.55.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. Equities research analysts predict that Broadcom Inc. will post 10.20 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 33.21%.

Key Broadcom News

Investors following AVGO have been watching these news items:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of Broadcom from $455.00 to $575.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Evercore set a $578.00 price objective on Broadcom and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada began coverage on Broadcom in a report on Thursday, September 3rd. They issued an “outperform” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $600.00 target price on shares of Broadcom in a research report on Tuesday, October 27th. Finally, William Blair cut Broadcom from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $525.19.

Broadcom Profile

Broadcom Inc. is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics. Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.