Broadcom Inc. $AVGO Stock: Private Advisory Group LLC Decreases Stake

Private Advisory Group LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,464 shares of the semiconductor manufacturer’s stock after selling 1,528 shares during the quarter. Broadcom makes up about 1.6% of Private Advisory Group LLC’s investment portfolio, making the stock its 12th largest position. Private Advisory Group LLC’s holdings in Broadcom were worth $30,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NerdWallet Wealth Partners LLC raised its holdings in shares of Broadcom by 2.6% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after purchasing an additional 27 shares in the last quarter. Veery Capital LLC boosted its stake in shares of Broadcom by 1.4% during the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock valued at $718,000 after purchasing an additional 27 shares in the last quarter. Ridgeline Wealth Planning LLC boosted its stake in shares of Broadcom by 2.1% during the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer’s stock valued at $492,000 after purchasing an additional 27 shares in the last quarter. Meridian Management Co. increased its holdings in Broadcom by 0.3% during the first quarter. Meridian Management Co. now owns 9,425 shares of the semiconductor manufacturer’s stock valued at $2,917,000 after buying an additional 28 shares during the period. Finally, Arkansas Financial Group Inc. increased its holdings in Broadcom by 3.5% during the second quarter. Arkansas Financial Group Inc. now owns 866 shares of the semiconductor manufacturer’s stock valued at $327,000 after buying an additional 29 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 4.8%

Shares of NASDAQ AVGO traded down $17.35 during trading hours on Friday, hitting $347.01. 31,579,948 shares of the stock were exchanged, compared to its average volume of 26,761,208. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. The firm has a fifty day moving average price of $345.39 and a 200-day moving average price of $366.55. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.66 trillion, a PE ratio of 44.32 and a beta of 1.49.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period last year, the firm earned $1.69 earnings per share. Broadcom’s revenue was up 85.5% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 10.20 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is currently 33.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVGO shares. Jefferies Financial Group initiated coverage on shares of Broadcom in a research note on Thursday, September 3rd. They issued a “buy” rating and a $550.00 price objective for the company. KeyCorp reiterated an “overweight” rating and issued a $575.00 price target on shares of Broadcom in a report on Thursday, September 3rd. Arete Research lifted their price target on Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Broadcom in a research report on Thursday, September 3rd. Finally, Wedbush started coverage on Broadcom in a research note on Tuesday, October 27th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $525.19.

Top Broadcom Stories

These are some of the AVGO stories that stood out recently:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Positive Sentiment: Despite Rothschild & Co Redburn’s downgrade, the articles note that Wall Street’s average price target remains around $533, above the firm’s new $398 target. This suggests some analysts still see substantial upside. Is Rothschild & Co Redburn Wrong to Give Up on Broadcom?
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

About Broadcom

Broadcom Inc. is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics. Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.