Harbour Trust & Investment Management Co Buys 171 Shares of Broadcom Inc. $AVGO

Harbour Trust & Investment Management Co lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the second quarter, HoldingsChannel.com reports. The fund owned 2,356 shares of the semiconductor manufacturer’s stock after acquiring an additional 171 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Broadcom were worth $649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Nuveen LLC bought a new stake in Broadcom in the first quarter worth $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock worth $5,900,814,000 after purchasing an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the 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 in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $349.24 on Tuesday. The stock has a market cap of $1.65 trillion, a PE ratio of 89.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. 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 fifty-two week low of $138.10 and a fifty-two week high of $374.23. The firm’s 50-day simple moving average is $328.64 and its two-hundred day simple moving average is $271.47.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Mizuho set a $430.00 price objective on shares of Broadcom in a research report on Monday, October 13th. Arete Research upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. Argus boosted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Finally, Benchmark boosted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $372.33.

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.