Hobbs Wealth Management LLC Grows Stock Holdings in Broadcom Inc. $AVGO

Hobbs Wealth Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 20.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,306 shares of the semiconductor manufacturer’s stock after buying an additional 391 shares during the quarter. Broadcom makes up approximately 0.6% of Hobbs Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. Hobbs Wealth Management LLC’s holdings in Broadcom were worth $636,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Broadcom in the first quarter worth $6,649,117,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the last quarter. Vanguard Group Inc. grew its position in Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG lifted its position in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. KeyCorp set a $460.00 price target on shares of Broadcom in a report on Monday, October 13th. The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the company a “buy” rating in a research report on Tuesday. Citigroup reiterated a “buy” rating and issued a $415.00 price objective (up from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Wells Fargo & Company lifted their target price on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Finally, Barclays set a $450.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $377.61.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $397.57 on Thursday. The company has a 50 day simple moving average of $349.96 and a two-hundred day simple moving average of $304.36. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $399.87. The company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 101.42, a P/E/G ratio of 1.31 and a beta of 1.19. 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 (NASDAQ:AVGO) last released its earnings results 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 business had revenue of $15.95 billion for 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 revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, September 22nd. Broadcom’s payout ratio is presently 60.20%.

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.