Broadcom Inc. $AVGO Stake Lessened by Arete Wealth Advisors LLC

by · The Cerbat Gem

Arete Wealth Advisors LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 0.6% in the 1st quarter, HoldingsChannel reports. The fund owned 38,639 shares of the semiconductor manufacturer’s stock after selling 227 shares during the period. Arete Wealth Advisors LLC’s holdings in Broadcom were worth $6,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Waddell & Associates LLC boosted its holdings in shares of Broadcom by 2.1% in the first 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 in the last quarter. Challenger Wealth Management lifted its stake in Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer’s stock valued at $587,000 after purchasing an additional 45 shares during the last quarter. True Wealth Design LLC lifted its stake in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC lifted its stake in Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $222,000 after purchasing an additional 48 shares during the last quarter. Finally, Martingale Asset Management L P lifted its stake in Broadcom by 1.3% during the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer’s stock valued at $649,000 after purchasing an additional 48 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Oppenheimer reissued an “outperform” rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research note on Friday. Citigroup increased their target price on shares of Broadcom from $315.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. Bank of America increased their target price on shares of Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. Hsbc Global Res raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 24th. Finally, Piper Sandler increased their target price on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus target price of $351.00.

View Our Latest Research Report on Broadcom

Broadcom Stock Up 9.4%

AVGO stock opened at $334.89 on Monday. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $356.34. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16. The company has a 50 day moving average of $292.09 and a two-hundred day moving average of $237.38.

Broadcom (NASDAQ:AVGO – Get Free Report) last released 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 net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 60.20%.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at $91,117,639.75. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 in the last ninety days. Company insiders own 2.00% of the company’s stock.

About Broadcom

(Free Report)

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.

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