Athena Investment Management Has $1.64 Million Stock Position in Broadcom Inc. $AVGO

Athena Investment Management reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,944 shares of the semiconductor manufacturer’s stock after selling 666 shares during the period. Broadcom comprises about 0.9% of Athena Investment Management’s holdings, making the stock its 19th largest position. Athena Investment Management’s holdings in Broadcom were worth $1,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sawyer & Company Inc raised its position in Broadcom by 62.1% during the second 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. PFS Partners LLC increased its stake in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 38 shares during the last quarter. Costello Asset Management INC raised its holdings in shares of Broadcom by 1.5% during the 2nd 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. Walkner Condon Financial Advisors LLC lifted its stake in shares of Broadcom by 1.0% in the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock valued at $1,087,000 after purchasing an additional 38 shares during the last quarter. Finally, Carson Advisory Inc. boosted its holdings in Broadcom by 2.0% in the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock worth $558,000 after purchasing an additional 39 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AVGO. Rosenblatt Securities raised their target price on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. JPMorgan Chase & Co. raised their price objective on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Sanford C. Bernstein boosted their target price on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Morgan Stanley set a $409.00 price target on Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Broadcom in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Buy” and a consensus target price of $374.21.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $346.82 on Friday. The company’s fifty day moving average is $348.54 and its two-hundred day moving average is $298.92. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. 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 firm has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 88.47, a P/E/G ratio of 1.21 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced 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. 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 analyst estimates of $15.82 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend 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%.

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.