Kestra Advisory Services LLC Purchases 83,424 Shares of Broadcom Inc. $AVGO

Kestra Advisory Services LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 482,379 shares of the semiconductor manufacturer’s stock after acquiring an additional 83,424 shares during the quarter. Broadcom accounts for 0.6% of Kestra Advisory Services LLC’s portfolio, making the stock its 24th biggest holding. Kestra Advisory Services LLC’s holdings in Broadcom were worth $149,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ROSS JOHNSON & Associates LLC lifted its stake in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC grew its position in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the period. Networth Advisors LLC increased its holdings in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares during the last quarter. Miller Global Investments LLC bought a new position in Broadcom in the fourth quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in Broadcom in the fourth quarter worth approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $399.97 on Monday. The firm has a market cap of $1.90 trillion, a P/E ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The company has a 50 day simple moving average of $405.29 and a two-hundred day simple moving average of $364.28.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the business posted $1.58 EPS. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Bank of America upped their price target on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Citigroup reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Finally, Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Buying and Selling

In related news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the transaction, the insider directly owned 219,989 shares of the company’s stock, valued at $83,417,628.91. The trade was a 10.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 36,644 shares of company stock worth $13,982,964. 1.90% of the stock is currently owned by corporate insiders.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.