Harvest Portfolios Group Inc. Acquires 80,191 Shares of Broadcom Inc. $AVGO

Harvest Portfolios Group Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 40.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,580 shares of the semiconductor manufacturer’s stock after purchasing an additional 80,191 shares during the period. Broadcom makes up about 1.4% of Harvest Portfolios Group Inc.’s portfolio, making the stock its 27th largest holding. Harvest Portfolios Group Inc.’s holdings in Broadcom were worth $46,475,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. PARUS FINANCE UK Ltd boosted its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after purchasing an additional 64,038 shares during the period. Keener Financial Planning LLC lifted its holdings in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after acquiring an additional 230 shares during the period. Diversify Wealth Management LLC lifted its holdings in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after acquiring an additional 2,016 shares during the period. OMNI 360 Wealth Inc. lifted its holdings in shares of Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer’s stock worth $499,000 after acquiring an additional 1,014 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Broadcom by 8.2% during the 1st quarter. Algert Global LLC now owns 60,976 shares of the semiconductor manufacturer’s stock worth $10,209,000 after acquiring an additional 4,618 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the sale, the director directly owned 23,782 shares in the company, valued at $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company’s stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,286,457 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Bank of America upped their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price objective for the company. Benchmark increased their price objective on shares of Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom has an average rating of “Buy” and an average price target of $300.96.

Broadcom Trading Up 0.1%

Shares of NASDAQ AVGO opened at $294.23 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The firm has a 50 day moving average price of $283.69 and a two-hundred day moving average price of $232.83. The stock has a market cap of $1.38 trillion, a P/E ratio of 110.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same period in the prior year, the company posted $10.96 EPS. The company’s revenue was up 20.2% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is 88.39%.

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.