Bleakley Financial Group LLC Has $44.47 Million Stock Position in Broadcom Inc. $AVGO

Bleakley Financial Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,331 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,211 shares during the quarter. Broadcom comprises 1.1% of Bleakley Financial Group LLC’s investment portfolio, making the stock its 18th biggest position. Bleakley Financial Group LLC’s holdings in Broadcom were worth $44,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sawyer & Company Inc raised its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. PFS Partners LLC raised its stake in Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares in the last quarter. Costello Asset Management INC raised its stake in Broadcom by 1.5% in the second quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 38 shares in the last quarter. Waddell & Associates LLC grew its position in Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock valued at $350,000 after acquiring an additional 43 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. grew its position in Broadcom by 1.3% in the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock valued at $939,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVGO shares. Truist Financial lifted their target price on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Arete Research upgraded Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. Morgan Stanley set a $409.00 target price on Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Benchmark lifted their target price on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Piper Sandler lifted their target price on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Performance

NASDAQ:AVGO opened at $372.97 on Wednesday. The stock has a market cap of $1.76 trillion, a P/E ratio of 95.15, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average is $334.16 and its 200-day moving average is $279.21. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.6%. Broadcom’s dividend payout ratio is presently 60.20%.

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.