Drive Wealth Management LLC Sells 521 Shares of Broadcom Inc. $AVGO

Drive Wealth Management LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,045 shares of the semiconductor manufacturer’s stock after selling 521 shares during the period. Broadcom comprises 0.8% of Drive Wealth Management LLC’s holdings, making the stock its 23rd largest position. Drive Wealth Management LLC’s holdings in Broadcom were worth $3,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the period. PFS Partners LLC lifted its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares in the last quarter. Costello Asset Management INC raised its position in Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after buying an additional 38 shares during the last quarter. Waddell & Associates LLC raised its position in Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock valued at $350,000 after buying an additional 43 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. raised its position in Broadcom by 1.3% in the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock valued at $939,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director directly owned 22,182 shares of the company’s stock, valued at approximately $7,767,027.30. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 2.9%

Shares of NASDAQ:AVGO opened at $354.13 on Friday. The business’s 50 day simple moving average is $331.47 and its two-hundred day simple moving average is $275.94. The firm has a market cap of $1.67 trillion, a P/E ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 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 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Bank of America lifted their target price on Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Mizuho set a $435.00 price target on Broadcom and gave the company an “outperform” rating in a research note on Tuesday. Oppenheimer restated an “outperform” rating and issued a $360.00 price target (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Barclays set a $450.00 price target on Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Buy” and an average target price of $372.52.

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.