Trueblood Wealth Management LLC Boosts Holdings in Broadcom Inc. $AVGO

Trueblood Wealth Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,110 shares of the semiconductor manufacturer’s stock after purchasing an additional 53 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Broadcom were worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Nuveen LLC acquired a new stake in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $5,900,814,000 after acquiring an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 valued at $5,668,134,000 after acquiring an additional 1,043,948 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at approximately $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. Over the last ninety days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 5.9%

AVGO stock opened at $324.63 on Friday. 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 Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company’s 50 day moving average is $322.64 and its two-hundred day moving average is $262.95. The stock has a market cap of $1.53 trillion, a P/E ratio of 82.81, a PEG ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued 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 presently 60.20%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Rosenblatt Securities raised their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Argus raised their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 8th. Truist Financial raised their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Macquarie assumed coverage on shares of Broadcom in a report on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $357.22.

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.