Envestnet Portfolio Solutions Inc. Purchases 23,382 Shares of Broadcom Inc. $AVGO

Envestnet Portfolio Solutions Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 10.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 240,924 shares of the semiconductor manufacturer’s stock after purchasing an additional 23,382 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Broadcom were worth $66,411,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of Broadcom in the 1st quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 37.8% during 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 during the period. Goldman Sachs Group Inc. increased its holdings in 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 holdings in 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. lifted its stake in Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after buying an additional 4,077,910 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 1.4%

NASDAQ:AVGO opened at $349.33 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a market cap of $1.65 trillion, a PE ratio of 89.11, a PEG ratio of 1.97 and a beta of 1.20. The firm has a 50-day moving average of $327.73 and a 200-day moving average of $270.05.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s dividend payout ratio is presently 60.20%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. HSBC upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Weiss Ratings lowered shares of Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. TD Cowen raised their target price on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Sanford C. Bernstein boosted their target price on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $372.33.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the sale, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated 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 sale, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Insiders own 2.00% of the company’s stock.

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.