Beta Wealth Group Inc. Decreases Position in Broadcom Inc. $AVGO

Beta Wealth Group Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 45.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,138 shares of the semiconductor manufacturer’s stock after selling 960 shares during the period. Beta Wealth Group Inc.’s holdings in Broadcom were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Cheviot Value Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $25,000. Sawyer & Company Inc increased its holdings in Broadcom by 62.1% during 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 period. Legend Financial Advisors Inc. bought a new position in Broadcom during the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $31,000. Finally, New England Capital Financial Advisors LLC bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $31,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on AVGO shares. Arete Research raised Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. 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 report on Friday, September 5th. Benchmark lifted their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Buy” and a consensus target price of $372.52.

Broadcom Trading Down 0.6%

NASDAQ:AVGO opened at $340.50 on Wednesday. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 86.86, a PEG ratio of 1.37 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. The company’s 50-day simple moving average is $349.10 and its 200 day simple moving average is $298.19.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating 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 business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 of this dividend was Monday, September 22nd. Broadcom’s payout ratio is 60.20%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $331.14, for a total transaction of $264,912.00. Following the completion of the transaction, the director owned 21,382 shares in the company, valued at approximately $7,080,435.48. The trade was a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Broadcom Profile

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.