Altus Wealth Group LLC Cuts Stock Position in Broadcom Inc. $AVGO

Altus Wealth Group LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,551 shares of the semiconductor manufacturer’s stock after selling 1,271 shares during the quarter. Broadcom comprises approximately 1.8% of Altus Wealth Group LLC’s portfolio, making the stock its 11th biggest position. Altus Wealth Group LLC’s holdings in Broadcom were worth $4,011,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 worth $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Nuveen LLC purchased a new position in Broadcom in the first quarter worth $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $5,900,814,000 after acquiring an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 worth $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.

Broadcom Stock Up 2.9%

AVGO opened at $354.13 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.67 trillion, a P/E ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The business’s fifty day simple moving average is $331.47 and its 200 day simple moving average is $275.94.

Broadcom (NASDAQ:AVGO) last posted 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 business 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 business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the firm’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 sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value 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. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVGO. UBS Group set a $415.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer reissued an “outperform” rating and issued a $360.00 target price (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Macquarie assumed coverage on Broadcom in a report on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price on the stock. Finally, Sanford C. Bernstein upped their target price on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.