Broadcom Inc. $AVGO Shares Acquired by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,442 shares of the semiconductor manufacturer’s stock after acquiring an additional 337 shares during the quarter. Broadcom comprises approximately 2.4% of Riverbend Wealth Management LLC’s portfolio, making the stock its 9th biggest position. Riverbend Wealth Management LLC’s holdings in Broadcom were worth $3,154,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom during the first quarter worth $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom during the first quarter worth $25,000. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the second quarter worth $28,000. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 137 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $347.82, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Barclays set a $450.00 price target on Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Mizuho set a $435.00 price target on Broadcom and gave the stock an “outperform” rating in a report on Tuesday. Piper Sandler increased their price target on Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Finally, Bank of America raised their target price on Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three 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 company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $372.52.

Broadcom Trading Up 1.2%

Shares of AVGO stock opened at $344.29 on Friday. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The stock has a market cap of $1.63 trillion, a P/E ratio of 87.83, a P/E/G ratio of 1.92 and a beta of 1.20. The business has a fifty day simple moving average of $330.52 and a 200-day simple moving average of $273.74. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) 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.