Cornerstone Wealth Group LLC Acquires 5,932 Shares of Broadcom Inc. $AVGO

Cornerstone Wealth Group LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.9% in the second quarter, HoldingsChannel reports. The firm owned 92,494 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,932 shares during the period. Broadcom makes up about 1.9% of Cornerstone Wealth Group LLC’s portfolio, making the stock its 8th biggest holding. Cornerstone Wealth Group LLC’s holdings in Broadcom were worth $25,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Sawyer & Company Inc boosted its stake in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. PFS Partners LLC lifted its holdings in Broadcom by 38.4% in 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 boosted its stake in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock worth $697,000 after purchasing an additional 38 shares during the last quarter. Waddell & Associates LLC grew its holdings in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock worth $350,000 after buying an additional 43 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. grew its holdings in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock worth $939,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Argus raised their target price on shares of Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. increased their price target on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Sanford C. Bernstein raised their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Benchmark lifted their price objective on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, TD Cowen upped 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. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $372.33.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $349.33 on Monday. The firm has a market capitalization of $1.65 trillion, a PE ratio of 89.11, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The business has a 50-day moving average of $327.73 and a two-hundred day moving average of $270.05. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.

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

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given 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 presently 60.20%.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 currently owned by insiders.

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.