Jessup Wealth Management Inc Buys New Position in Broadcom Inc. $AVGO

Jessup Wealth Management Inc bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 881 shares of the semiconductor manufacturer’s stock, valued at approximately $243,000.

Several other hedge funds have also made changes to their positions in AVGO. Cheviot Value Management LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $25,000. Sawyer & Company Inc boosted its holdings 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 purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth about $31,000. Finally, Greenline Partners LLC purchased a new position in Broadcom in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the 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 transaction, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on AVGO shares. Bank of America raised their price objective on Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Truist Financial increased their price objective on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Argus lifted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company increased their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Three 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $372.52.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $355.59 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.68 trillion, a P/E ratio of 90.71, a PEG ratio of 1.45 and a beta of 1.19. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $386.48. The company has a 50-day moving average price of $343.86 and a 200 day moving average price of $287.73.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend 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 is 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.