Morton Capital Management LLC CA Sells 73 Shares of Broadcom Inc. $AVGO

Morton Capital Management LLC CA lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,396 shares of the semiconductor manufacturer’s stock after selling 73 shares during the period. Morton Capital Management LLC CA’s holdings in Broadcom were worth $1,212,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sawyer & Company Inc lifted 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 acquiring an additional 36 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in Broadcom in the 2nd quarter valued at approximately $28,000. Maseco LLP bought a new stake in Broadcom in the 2nd quarter valued at approximately $34,000. PFS Partners LLC lifted its stake in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the 1st quarter valued at approximately $25,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $356.70 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock’s fifty day moving average price is $323.82 and its two-hundred day moving average price is $264.90. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The firm has a market cap of $1.68 trillion, a price-to-earnings ratio of 90.99, a P/E/G ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Activity

In other news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AVGO shares. Hsbc Global Res upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $340.00 price target on shares of Broadcom in a research report on Wednesday, August 13th. Truist Financial boosted their price target on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $359.44.

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.