Broadcom Inc. $AVGO Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. reduced its holdings in Broadcom Inc. by 26.6%, now owning 185,783 shares valued at approximately $31.1 million.
• Wall Street analysts are generally optimistic about Broadcom, with a consensus rating of "Buy" and an average target price of $302.58.
• Insider selling is notable, with CFO Kirsten M. Spears and Director Henry Samueli selling significant shares, indicating a 13.46% and 1.23% decrease in their ownership, respectively.

Advisors Asset Management Inc. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 26.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,783 shares of the semiconductor manufacturer's stock after selling 67,232 shares during the quarter. Broadcom comprises 0.6% of Advisors Asset Management Inc.'s portfolio, making the stock its 22nd largest position. Advisors Asset Management Inc.'s holdings in Broadcom were worth $31,106,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. PARUS FINANCE UK Ltd grew its holdings in shares of Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after buying an additional 64,038 shares during the last quarter. Keener Financial Planning LLC boosted its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after acquiring an additional 230 shares during the last quarter. Diversify Wealth Management LLC raised its position in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares during the period. OMNI 360 Wealth Inc. raised its position in shares of Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after purchasing an additional 1,014 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Broadcom by 1.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock valued at $9,109,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 830,516 shares of company stock valued at $217,286,457. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AVGO shares. Redburn Atlantic started coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. UBS Group boosted their price objective on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Morgan Stanley boosted their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Finally, Barclays increased their target price on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $351.00.

Broadcom Stock Performance

NASDAQ AVGO traded up $28.79 during mid-day trading on Friday, reaching $334.89. 78,318,626 shares of the stock were exchanged, compared to its average volume of 17,635,120. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market capitalization of $1.58 trillion, a P/E ratio of 85.43, a P/E/G ratio of 2.17 and a beta of 1.16. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $356.34. The business's 50 day moving average is $292.09 and its 200-day moving average is $237.25.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The company's revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

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.