Spire Wealth Management Sells 2,922 Shares of Broadcom Inc. $AVGO

Spire Wealth Management decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,195 shares of the semiconductor manufacturer’s stock after selling 2,922 shares during the period. Spire Wealth Management’s holdings in Broadcom were worth $18,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. Spear Holdings RSC Ltd acquired a new position in Broadcom in the first quarter valued at about $66,748,000. Cloud Capital Management LLC acquired a new position in Broadcom in the first quarter valued at about $59,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in Broadcom in the first quarter valued at about $301,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AVGO shares. JPMorgan Chase & Co. boosted their price target on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. UBS Group set a $415.00 target price on Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. KeyCorp set a $460.00 target price on Broadcom in a research report on Monday, October 13th. Citigroup reiterated a “buy” rating and issued a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Finally, TD Cowen lifted their target price on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $372.52.

Broadcom Stock Performance

NASDAQ:AVGO opened at $362.55 on Tuesday. The stock has a market cap of $1.71 trillion, a P/E ratio of 92.49, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average is $340.67 and its 200-day moving average is $285.47. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share 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 business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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