Appleton Partners Inc. MA Sells 16,592 Shares of Broadcom Inc. $AVGO

Appleton Partners Inc. MA lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.9% during the second quarter, HoldingsChannel reports. The firm owned 135,361 shares of the semiconductor manufacturer’s stock after selling 16,592 shares during the quarter. Broadcom accounts for 2.6% of Appleton Partners Inc. MA’s holdings, making the stock its 7th largest position. Appleton Partners Inc. MA’s holdings in Broadcom were worth $37,312,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at $26,000. Sawyer & Company Inc boosted its holdings in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. TD Cowen raised their price objective on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a report on Friday, September 5th. Benchmark raised their price objective on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group reissued a “buy” rating and set a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Piper Sandler raised their price objective on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Finally, UBS Group raised their price objective on Broadcom from $290.00 to $345.00 and gave the company a “buy” rating in a report on Monday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $357.22.

Broadcom Stock Down 5.9%

Shares of AVGO opened at $324.63 on Friday. The company has a market capitalization of $1.53 trillion, a PE ratio of 82.81, a PEG ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The stock’s 50-day moving average price is $322.64 and its two-hundred day moving average price is $262.37. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for 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 business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 148,154 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by company insiders.

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.