Jessup Wealth Management Inc Acquires Shares of 881 Broadcom Inc. $AVGO

Jessup Wealth Management Inc bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 881 shares of the semiconductor manufacturer’s stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Sawyer & Company Inc raised its stake in 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 during the last quarter. Legend Financial Advisors Inc. purchased a new position in Broadcom in the 2nd quarter valued at $28,000. LGT Financial Advisors LLC acquired a new stake in Broadcom during the 2nd quarter worth $31,000. Finally, Greenline Partners LLC purchased a new stake in shares of Broadcom during the first quarter worth $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.9%

AVGO stock opened at $355.59 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. The firm has a market cap of $1.68 trillion, a PE ratio of 90.71, a PEG ratio of 1.45 and a beta of 1.19. The firm’s 50 day moving average price is $343.86 and its 200-day moving average price is $287.73. 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 (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group set a $415.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. The Goldman Sachs Group restated a “buy” rating and set a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. Macquarie started coverage on Broadcom in a report on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target for the company. Finally, Mizuho set a $435.00 price objective on Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average price target of $372.52.

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.