Prosperity Financial Group Inc. Increases Position in Broadcom Inc. $AVGO

Prosperity Financial Group Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,379 shares of the semiconductor manufacturer’s stock after purchasing an additional 49 shares during the period. Broadcom accounts for 1.3% of Prosperity Financial Group Inc.’s investment portfolio, making the stock its 25th largest holding. Prosperity Financial Group Inc.’s holdings in Broadcom were worth $3,137,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at approximately $25,000. Sawyer & Company Inc increased its position in shares of 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 stake in shares of Broadcom in the 2nd quarter valued at approximately $28,000. Finally, Wood Tarver Financial Group LLC boosted its holdings in shares of Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction 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. This represents a 12.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm’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 owned 25,295 shares of the company’s stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AVGO shares. Truist Financial upped their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Arete Research upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Finally, Bank of America upped their target price on shares of Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $372.52.

Broadcom Stock Up 3.0%

Shares of 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 P/E/G ratio of 2.04 and a beta of 1.20. The firm has a fifty day moving average price of $334.16 and a 200 day moving average price of $279.21. 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 1-year low of $138.10 and a 1-year high of $374.23.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is currently 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.