Verus Wealth Management LLC Increases Stake in Broadcom Inc. $AVGO

Verus Wealth Management LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,621 shares of the semiconductor manufacturer’s stock after buying an additional 71 shares during the period. Verus Wealth Management LLC’s holdings in Broadcom were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of Broadcom in the first quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Broadcom stock opened at $324.63 on Friday. The firm has a 50-day moving average price of $322.64 and a 200-day moving average price of $262.37. The firm has a market capitalization of $1.53 trillion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.91 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. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued 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 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 60.20%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Broadcom from $265.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Macquarie began coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price objective for the company. Rosenblatt Securities raised their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Finally, Benchmark raised their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus price target of $357.22.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.